The company, which was once worth more than US$4b, earlier this month announced a deal to sell its assets for US$39m.
Outgoing chief executive Mark Cairn's fishing skills got a mention at his final annual meeting.
Annual meeting hears company must raise money to pay bills.
Co-op still profitable but Covid-19 hit results.
Greg Allen will stay with the company until April at the latest.
The company in September announced a strategic review of all its assets.
Professor Jeffrey Sachs also lavishes praise on Jacinda Ardern and New Zealand's handling of the pandemic.
The percentage of graduates ‘very confident’ in their job prospects has fallen to just 22%.
Other decisions released by the OIO today related to forestry standing consents and more.
Questions remain about how long Freightways’ foray into trans-Tasman airfreight will last.