1st Jun 2018 14:15
LONDON (Alliance News) - Glanbia PLC on Friday promoted Vice Chairman Martin Keane to the position of chairman replacing Henry Corbally.
Patrick Murphy has also been appointed to the position of vice chairman in lieu of Martin Keane.
Keane is a nominee of Glanbia Co-operative Society Ltd owner of a 31.5% stake in Glanbia.
In accordance with previous agreements with Glanbia Co-operative the number of Glanbia Co-operative nominee directors on the board will be reduced to eight from 10 during 2018.
Within 2022 the number of Glanbia Co-operative nominees will be reduced to six.
The appointment of a Glanbia Co-op nominee to the chair may continue in effect until no later than June 2020.
In addition, Jer Doheny has been appointed as a non-executive director and Tom Grant and Patsy Ahern have retired from their non-executive director roles.
Glanbia shares were trading down 0.4% at 15.68 pence each.
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