The monthly board meeting of Ornua directors, due to take place on Wednesday 14 November, was postponed for the month, as the directors considered certain governance matters.

“It is the remit of the directors of Ornua to act in the best interests of the co-op, in turn protecting the interests of Irish farmers,” an Ornua spokesperson said.

In October, Glanbia launched its Truly Grass Fed cheese brand into the US market, to retail on shelves beside Kerrygold products, effectively in competition with Ornua.

Market share

A Glanbia spokesperson said: “In a country with a growing milk pool and a looming Brexit challenge, Irish dairy farmers cannot be deprived of the opportunities to grow market share in a US retail cheese market worth $15bn.

“From an Irish perspective, this will require multiple brands targeting different market segments.

“Glanbia looks forward to continuing its mutually beneficial relationship with Ornua.”