AMES, IOWA (Dec. 16, 2020) - Landus, a farmer-owned cooperative, held its Annual Meeting on Monday, December 14. It was conducted virtually due to social distance requirements related to the pandemic. Included in the program were the election results for four board director positions, an update regarding the company’s strong financial health, and an outlook for future growth.
Board of Director Elections
As announced during the Annual Meeting, elected as board directors for three-year terms are:
- Matt Chambers of Audubon, Iowa
- Jeff Frank of Auburn, Iowa
- Dan Reynolds of Rockwell City, Iowa, re-elected
- Nate Stewart of Cedar Falls, Iowa, re-elected
In a board meeting following the Annual Meeting, officers of the Landus Board of Directors were elected as follows:
- Nate Stewart of Cedar Falls - Chair
- Ryan Bristle of Polk City, Iowa - Vice Chair
- Matt Showalter of Hampton, Iowa - re-elected Secretary/Treasurer
In addition, the term of Bryce of Caple of Maxwell, Iowa as a non-voting, associate member was extended for 2021.
Fiscal Year 2020 Financial Highlights
Mark Miner, Chief Financial Officer, Landus, provided a detailed report of the 2020 fiscal year financials during the Annual Meeting, including these highlights:
- Total profit of $8.6 million compared to a $4 million deficit in 2019
- Total revenue surpassed $166 million
- Total $1.4 million of patronage paid in cash
- Corn receipts up nearly 20 percent year-over-year
- Fertilizer volumes up 15 percent year-over-year
- Record soy crush of 23.1 million bushels achieved at our Ralston facility
Outlook
Matt Carstens, President & CEO, Landus, provided a vision for the future of Landus based on the Landus Growth & Performance Strategy.
Over 260 participants joined the virtual Annual Meeting online. Visit landuscooperative.com to watch a replay of the event.
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Landus is a farmer-owned agricultural cooperative headquartered in Ames, Iowa. We employ about 600 full-time employees at locations in more than 60 communities to serve our 7,000 farmer-owners. We are Iowa’s largest agricultural cooperative providing unmatched scale, expertise, facilities, and logistics. Our products and services span the five pillars of agronomy, grain, feed, animal nutrition, and data.
For more information, visit LandusCooperative.com.
