There were a number of big announcements on the agribusiness front this week. In reality, Kerry Group and Glanbia overshadowed their positive financial results with additional announcements around changes to internal structures. Stan McCarthy is to retire after what can only be seen as 10 hugely successful years at the helm of Kerry, during which he delivered constant steady growth. His successor Edmond Scanlon brings a wealth of experience in developing markets in Asia – perhaps an indication of where the organisation sees future growth.
Meanwhile, the evolution of the relationship between Glanbia plc and Glanbia co-op continues. The proposal to establish a joint venture encompassing Glanbia Ingredients Ireland, Consumer Products and Agribusiness is complex and will require detailed analysis in advance of the vote, likely to take place in May. In the coming weeks, our AgriBusiness team will go through the proposal and tease out the figures.