Ornua board meeting postponed due to ‘governance matters’

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Ornua board meeting postponed due to ‘governance matters’

 


Trailblazer: Kerrygold butter
Trailblazer: Kerrygold butter

Ornua’s board meeting which was due to take place tomorrow has been postponed due to ‘governance issues’ at board level.

A spokesperson for Ornua told FarmIreland: “The directors are currently considering certain governance matters at board level and this month’s board meeting has been postponed.”

A new date for the board meeting has not yet been confirmed.

The ongoing dispute between Ornua and Glanbia was expected to click up a gear at the meeting that was scheduled to take place tomorrow.

The differences between the dairy companies were prompted by the recent launch of Glanbia’s Truly Grass Fed dairy range in the US.

Matters have deteriorated further following the move to Glanbia of a former senior staff member at Ornua’s US office. Glanbia Co-op is a shareholder in Ornua, like most other dairy co-ops, and is represented on the dairy marketing body’s board.

In launching its Truly Grass Fed cheese, Glanbia has been accused of targeting Ornua’s Kerrygold brand, and its lucrative market share in the US. Glanbia rejects this assertion.

Ornua chief executive John Jordan reiterated at last week’s ICOS conference that Kerrygold’s market position in the US would be defended, but conceded that this battle could inevitably erode value for the Irish dairy industry.

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Glanbia’s launch of the Truly Grass Fed brand has been strongly criticised by the farm organisations.

Indo Farming

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