Kerry Group Plc halves farmer presence on its board
Published 13/09/2016 | 02:30
Farmer representation on the board of Kerry Group Plc will be halved next year under new proposals from the company.
There are currently four Kerry Co-op nominees on the 15-member Kerry Group Plc board. However, this number will be reduced to two next year.
Kerry Group informed the board of Kerry Co-op regarding the proposed changes over the last fortnight.
When contacted by the Farming Independent on this issue, Kerry Group Plc confirmed that farmer representation was being reduced.
"Recognising the dairy heritage of the group, the chairman of Kerry Group has informed the Kerry Co-op board that a new process for selecting two appropriate appointees will commence in mid-2017," Kerry Group stated.
The manner in which farmers are selected for membership of the company's board is also being totally revamped.
In the past the four candidates were elected from among the 28-member Kerry Co-op board. However, from next year, the co-op board must put a minimum of eight nominations forward for the two company board positions, with two successful candidates being chosen after an interview process.
It is understood that the matter has been discussed by the Kerry Co-op board, and clarity has been sought regarding the proposals.