à propos factfiles Limagrain’s cooperative governance: a strength Limagrain draws its strength from its cooperative roots. This governance remains unprecedented among leading international seed companies. As the parent company of Limagrain, the Cooperative extends its values of a “partnership company” throughout the Group and to the development of its activities. Assured of the stability of its shareholders, Limagrain can develop a long-term strategic vision and thus lasting economic success. Limagrain is directed by farmers, members of the Cooperative: a particularity that provides legitimacy and trust for all its stakeholders, and which creates an intimate link between Limagrain and its region. This culture of cooperation runs through all the veins of the Group: it is shared by Limagrain’s farmer members and employees and extends to all its scientific, industrial and commercial partners.
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factfiles à propos - Limagrain...The specific characteristics of the Limagrain model of cooperative governance Limagrain is a cooperative, which means it follows the principles
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à propos
factfiles
Limagrain’s cooperative
governance: a strength
Limagrain draws its strength from
its cooperative roots. This governance
remains unprecedented among leading
international seed companies. As the parent
company of Limagrain, the Cooperative
extends its values of a “partnership
company” throughout the Group
and to the development of its activities.
Assured of the stability of its shareholders,
Limagrain can develop a long-term
strategic vision and thus lasting
economic success.
Limagrain is directed by farmers, members
of the Cooperative: a particularity that
provides legitimacy and trust for all
its stakeholders, and which creates an
intimate link between Limagrain
and its region.
This culture of cooperation runs through
all the veins of the Group: it is shared
by Limagrain’s farmer members and
employees and extends to all its scientific,
industrial and commercial partners.
The Cooperative is at the heart
of Limagrain’s organizational structure
Limagrain is an international leader in the seeds market that has remained loyal
to its purpose as an agricultural cooperative: to be an efficient and sustainable
extension of its members’ farms.
The Limagrain Cooperative: the parent company of an international group
Limagrain’s roots lie in the world of agricultural
cooperatives that sprung up at the end of the 19th century
in a number of countries. In 1942, farmers in the Limagne
plain (Puy-de-Dôme, France) formed a cooperative
to gain control over the supply of seeds required
for their activities. This cooperative became Limagrain
in 1965 and continued to support the growth of these farms
through the production of seed corn.
Today, Limagrain represents:
• nearly 2,000 farms in Puy-de-Dôme county
and in the south of Allier county;
• 45,000 hectares of production under contract,
i.e. approximately 50% of crop land in Puy-de-Dôme
county;
• the parent company of an international group active
in 41 countries.
GLOSSARY
a Cooperative: an autonomous association
of individuals who have come together
to meet their shared economic, social or
cultural aspirations and needs. A cooperative
company’s property is owned collectively
and power is exercised democratically
according to the principle of “one person,
one vote”. In agricultural cooperatives,
farmers are both partners and suppliers
as well as customers. They meet at least once
a year at an Annual General Meeting where
they elect the individuals who will serve
on the Cooperative’s Board of Directors.
a Governance: broadly speaking,
the governance of an organization
represents the set of processes, practices,
policies and structures that determine
the way in which it is managed, administered
and controlled. Defined more narrowly,
the term “corporate governance” is used to refer
to the interplay between shareholders
and the company’s management.
a Stakeholders: an organization’s stakeholders
include those who contribute to its economic
activity (members, employees, clients, suppliers
and shareholders), those who observe it (unions,
NGOs, the media, local residents, etc.) and
those over which it has a more or less direct
influence (civil society, local authorities, etc.).
“Our aim is to be the preferred
company of farmers in the Limagne plain.
By serving our members, our goal is to provide
the best agronomic expertise and to bring
value to their farm holdings. We are pursuing
this goal in our agri-food chains: Limagrain
Coop is the leading supplier to Limagrain
Europe (seeds), Limagrain Céréales Ingrédients
(semolina corn and wheat) and Jacquet
Brossard (wheat flours produced by Limagrain
Céréales Ingrédients).”Jean-Yves Marrec, Deputy CEO
of Limagrain Coop
Field Seeds
Cereal Products
Sandwich bread, specialty breads,
crispbread, pastries.
Bakery
Products
Wheat and corn semolina
and flours, cereal-based texturing
agents, functional, flours,
food fiber, bioplastics.
Cereal
Ingredients
Vegetable Seeds
Vegetable and flower seeds,
turf seed, flower bulbs.
Garden Products
Tomato, melon, bell pepper, carrot,
bean, cauliflower, onion, squash,
watermelon, lettuce, cucumber, etc.
Vegetable Seeds
Limagrain Coop
Limagrain Coop
Serving farmer members
of the Limagrain Cooperative
Crop production, advice
and distribution.
Corn, wheat, sunflower, rapeseed.
Field Seeds
2
The Limagrain Cooperative:
a company of people
Like all cooperatives, Limagrain is a company born
out of the shared economic interests of a group of people
who have come together to advance these interests.
A group of farmers sought to share their means of
producing, transforming and marketing their agricultural
products within an agricultural cooperative: this company
is an extension of their own farms.
Our farmer members (or “farmer partners”) provide
the capital that is necessary for their cooperative
by purchasing shares in the company. They are not
anonymous shareholders. Instead, they are committed
to operating according to the democratic principle
of “one person, one vote”: the weight of each individual
in any decision does not depend on the amount of shares
he or she holds.
Limagrain is thus a “company of people”.
The role of farmer partners within
the Limagrain Cooperative
They are at the same time partners, “suppliers” and “customers”.
The Limagrain Cooperative
supplies its members with
the services and products needed
for their farms (seeds, fertilizer,
plant treatment products
and more).
2, 000Nearly
members The Limagrain Cooperative
members purchase a number of
shares in proportion to the amount
of business they conduct with
the Cooperative. This number may
vary from one year to the next.
• “One person, one vote”: for every
decision that is made at the Annual
General Meeting, each farmer
partner has the same number
of votes, no matter the number
of shares owned by the individual.
• Transfer of shares with
the authorization of the Board
of Directors.
• Indivisibility of reserves:
should farmer partners leave
the Cooperative, they will be
reimbursed only for the price
of their capital stock. Any reserves
they helped to amass during their
time as members will remain
the property of the Cooperative.
• Remuneration of shares will
consist primarily of dividends
and interest payments.
The Limagrain Cooperative members contribute
a portion of their farm’s production. A contract sets
out the terms and conditions of this relationship
(in particular quantity as well as quality, with detailed
specifications). This contractual relationship enables
Limagrain to smooth out any fluctuations in prices
of agricultural raw materials and to ensure that
its local chains (agricultural product transformation
units) receive the supplies they need.
Every year, members sign production contracts
with Limagrain. These contracts cover more than
45,000 hectares of land. They supply the following