Pascal Taggart quits board of Irish Pride Bakeries
Published 04/09/2010 | 05:00
Well-known businessman Pascal Taggart has left his non-executive directorship role at Irish Pride Bakeries, a unit of the Philip Lynch-led investment group One51.
Mr Taggart was vocal at One51's AGM in July in his opposition to successful attempts by the One51 board to prevent shareholders, by way of legal procedural technicalities, from directly voting on the proposed election of dissident investors to the board.
There's no suggestion that his departure from Irish Pride is linked to those events, and a spokesman for One51 said that Mr Taggart had actually stepped down from the Irish Pride board at the beginning of this year.
He added that Mr Taggart and two other non-executive directors had left the board as it was "right-sized" to reflect the scale of the unit. Filings at the Companies' Office show that the director terminations were effective as of August 30. The bread-making firm still has nine board directors.
The two other directors at Irish Pride Bakeries who have stepped down from their roles include the high-profile businessman Cormac McAlinden, the founder of the Lithographic Group and Mac Publishing, and Ken Peare, a director of DCC's food and beverage unit.