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Martin Keane has been elected as the new chair of Glanbia co-op and plc. Keane previously held the position of vice-chair, and takes the place of Henry Corbally. John Murphy and Patrick Murphy were elected as the vice-chairs.
The number of directors Glanbia co-op nominates to the board of Glanbia plc from reduced from to eight members for the years 2018 and 2019. This reflects the reduced shareholding the co-op holds in the plc since last year's purchase of 60% of Dairy Ireland and associated share spin-out.
Background
The co-op board annually elects the chairman, vice-chair, and the nominees to the plc board. Corbally's defeat follows him serving as chairman for the last three years, and comes as a surprise to observers.
Keane was previously vice-chairman alongside Corbally during Liam Herlihy's tenure as chairman, and was seen by many as Herlihy's likely successor. He lost out to Corbally in 2015.
Martin Keane will step down from the presidency of the Irish Co-operative Organisation Society next week at its AGM.
The next board meeting of ICOS following the AGM will elect a new president to replace him.Kilkenny dairy farmer Pat Murphy last year lost his vice-chair position to Wexford dairy farmer John Murphy, but now regains a vice-chairmanship.
Martin Keane was elected chairman of Glanbia plc in a plc board meeting subsequent to the co-op meeting.
He farms at Errill, Portlaoise, Co. Laois and was appointed to the board of Glanbia co-op and plc in 2006. Martin is married to Margaret and they have three children.
The co-op board decided to select the five nominees to join the chairman and vice-chairs on the plc board for the next twelve months on the basis of seniority. That resulted in the selection of Henry Corbally, Eamon Power, Brendan Hayes, Jer Doheny and Vincent Gorman. Their nominations were ratified by the plc board today.
With additional reporting from Pat O'Toole.
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