Glanbia plc is to reorganise its board. The revised board will be made up of 16 people including the group managing director and group finance director, along with six independent non-executive directors. In accordance with changes agreed in 2017 by shareholders, the board will be made up of eight board members from the co-op.

The changes are being made “to facilitate the broadening of the external perspective of the board”, according to the company. As a result, Hugh McGuire and Brian Phelan will not be putting themselves forward for re-election at the 2019 annual general meeting (AGM). Their key executive roles will be unaltered and they will continue in their executive leadership positions as CEOs of Glanbia Performance Nutrition and Glanbia Nutritionals.

New board members

ADVERTISEMENT

Mary Minnick will join the board. She was previously a partner of Lion Capital LLP, a private equity firm. Prior to that, she had a 23-year career with The Coca-Cola Company. She is currently a member of the boards of Target Corporation and Leo Holdings Corp. Previously she was a member of the boards of Heineken and Whitewave Foods.

Richard Laube will also join the board. He was CEO of Nobel Biocare, a Swiss-listed medical device business. He also served as executive board member of Nestlé. He currently serves as a director of Gnubiotics Sciences and Piqur Therapeutics SA.

Paul Haran, senior independent director, will retire immediately upon completion of the appointment of a third new independent non-executive director, which is expected to be completed during 2019.

In 2020 the number of directors nominated by the co-op will reduce from eight to seven and in 2022 the number of directors nominated by the society will reduce to six. It is the intention that the co-op will continue to nominate the chair of the board until no later than 30 June 2020.