"Increasingly they don't know home and so they read the stories but it's different to read it, to walk it and feel it.
"These are some of the bigger challenges for me. How do we keep our people close? How do we get them to feel like we do, increasingly passionate and protective of what we have?"
Mullins said existing tools to prevent fragmentation, such as whānau trusts, were not a sustainable solution because as individual families grow, their whānau trust membership also expands.
The problem would just be passed to future generations unless the issue is addressed now.
"It's going to take some strong leadership, some very smart thinking, and then I guess it's whether or not whānau are going to be brave enough. Is this about shareholding or is this about whakapapa?
"What we have is only half working. We do need a new model – something that is going to continue to hold fast to the kaupapa that is our legacy but that has that kind of flex to encompass who we are and what we are."
Ātihau-Whanganui, which owns 42,000 hectares of farmland from Ohakune to Whanganui and is one of Aotearoa's largest farmers, has tested new ideas around benefit distribution which focus not only on dividends but also charitable support, Mullins said.
In the last financial year, its charitable arm distributed more than $364,000 through 549 grants to advance the education, cultural aspirations, health and wellbeing of shareholders and descendants – an increase of 120 grants and $78,000 on the previous year.
"Even if you are the tiniest of shareholders, you're not excluded from benefit," Mullins said.
"I think it's fantastic and when we see what's coming out the other end, in terms of outcomes for our grant and scholarship recipients, our marae, our kaumātua, it's heart stuff. It's about strengthening and supporting our cultural footprint."
Ātihau-Whanganui Incorporation farms 70,000 sheep, 4000 beef cows, 700 dairy cows and 3000 beehives on its whānau farms.
Mullins announced just before this month's annual general meeting that she would step down as chair at the new board's first meeting.
She has been an elected board member for about 16 years, eight of them as chair. She will see out her term as a board member for the next year.
At the AGM, Keria Ponga and Te Tiwha Puketapu vacated their seats on the board due to rotation but were re-elected.
Other board members are Che Wilson, Whatarangi Murphy-Peehi, Rāwiri Tinirau and Shar Amner, with independent members Joe Hanita and David Nelson.
