New directors appointed to Glanbia Co-op and Glanbia plc

GII All Co-op Dairy

The Glanbia Co-op has chosen its 10 nominees to the Board of Glanbia plc.

Glanbia Co-operative Society Limited (“Glanbia Co-op") has today appointed Eamonn McEnteggart, John Murphy (from the Donaghmore/Monasterevin region) and Patrick Whyte as board members of Glanbia Co-op.

They replace Jim Gilsenan, Matt Merrick and Patrick Hogan, who have retired from the Glanbia Co-op board.

John Murphy (from the North Wexford/East Wicklow region) has also been appointed as one of two Vice-Chairs of Glanbia Co-op.

Also today Glanbia plc, the global nutrition group, has appointed Tom Grant, Brendan Hayes, and Eamon Power as Non-Executive Directors with immediate effect. John Murphy (North Wexford/East Wicklow) has also been appointed as one of two Vice-Chairs of Glanbia plc in place of Pat Murphy who remains as a Non-Executive Director. These appointments have been made on the nomination of Glanbia Co-op.

In addition, Jer Doheny has retired as a Director of Glanbia plc with immediate effect.

Glanbia Co-op currently owns 33.5% of the issued share capital of Glanbia plc. During 2012 (as amended in 2015 and 2017), Glanbia Co-op and Glanbia plc agreed the following changes, which impact the composition and size of the Board of Glanbia plc between 2016 and 2022:

  • For 2016 and 2017, the number of Glanbia Co-op Nominee Directors on the Board has reduced from fourteen to ten members;
  • For 2018 and 2019 the number of Glanbia Co-op Nominee Directors on the Board will reduce to eight;
  • For 2020 and 2021 the number of Glanbia Co-op Nominee Directors on the Board will reduce to seven;
  • From 2022 and provided the shareholding of Glanbia Co-op in Glanbia plc reduces below 33%, the number of Glanbia Co-op Nominee Directors on the Board will reduce to six;
  • The Group Chairman of Glanbia plc will continue to be nominated by Glanbia Co-op until no later than 30 June 2020; and
  • Up to eight of the Directors on the Board of Glanbia plc will be composed of Executive Directors and Non-Executive Directors who are independent of Glanbia Co-op.

First Published 2 June 2017

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