I understand that five members of the Ornua board have been flashed with the “black” card – asked to step down, but someone else can take their position by 25 October.
The five members are Dairygold chair John O’Gorman, Dairygold boss Jim Woulfe, Glanbia chair Martin Keane, Glanbia chief executive Jim Bergin and Lakeland’s Michael Hanley.
Like the rolling Brexit deadlines, the Ornua exit deadline may change but, as it stands, all five have been informed in writing that Friday 25 October is the deadline for new board representatives from each of their respective companies.
I’m sure all three are arguing that other members are also conflicted (trading inside and outside Ornua).
I understand that the consensus seems to be that the unlisted PLC model floated by Dairygold is not going to succeed, however. The wait goes on for an alternative proposal.
ICOS, I’m told, is working hard on options. The last thing dairy farmers need is fractured dairy marketing outside of Ireland. It’s bad enough some of the other agri sectors are doing that.
Read more
Ornua board fails to reach agreement
What is happening at Ornua?
Ornua board members seek legal advice
Analysis: what’s behind the Ornua restructure?
I understand that five members of the Ornua board have been flashed with the “black” card – asked to step down, but someone else can take their position by 25 October.
The five members are Dairygold chair John O’Gorman, Dairygold boss Jim Woulfe, Glanbia chair Martin Keane, Glanbia chief executive Jim Bergin and Lakeland’s Michael Hanley.
Like the rolling Brexit deadlines, the Ornua exit deadline may change but, as it stands, all five have been informed in writing that Friday 25 October is the deadline for new board representatives from each of their respective companies.
I’m sure all three are arguing that other members are also conflicted (trading inside and outside Ornua).
I understand that the consensus seems to be that the unlisted PLC model floated by Dairygold is not going to succeed, however. The wait goes on for an alternative proposal.
ICOS, I’m told, is working hard on options. The last thing dairy farmers need is fractured dairy marketing outside of Ireland. It’s bad enough some of the other agri sectors are doing that.
Read more
Ornua board fails to reach agreement
What is happening at Ornua?
Ornua board members seek legal advice
Analysis: what’s behind the Ornua restructure?
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