Glanbia shakes up its boardroom with new appointments
Glanbia today announced two new members to its board, as independent non-executive directors, as it announced plans to reorganise the composition of its Board of Directors.
The move was previously agreed as part of its Relationship Agreement between the Society and Glanbia, that the co-op's representation on the board would reduce.
The reorganised Board will be comprised of 16 members: two Executive Directors; Group Managing Director and Group Finance Director; six Independent Non-Executive Directors; and eight Non-Executive Directors nominated by Glanbia Co-operative Society Limited.
The PLC board will be joined by Mary Minnick (59), a previously partner of Lion Capital LLP, a consumer-focused private equity firm and Richard Laube (62), former CEO of Nobel Biocare, a Swiss listed medical device business.
Minnick was involved in a number of successful investments in well-known retail and consumer branded companies, several of which she chaired.
Prior to that, Ms. Minnick had a 23-year career with The Coca-Cola Company, where she held a variety of senior management positions, including Chief Operating Officer of the Asian region, Division President roles in the Japan, South Pacific and Asian regions, and ultimately as the company’s Chief Marketing Officer and Global President of Strategy and Innovation.
Richard Laube (62) was CEO of Nobel Biocare, a Swiss listed medical device business, from April 2011 to April 2016.
Prior to that he served as Executive Board Member of Nestlé SA, from April 2005 to September 2010, and served operationally as CEO of Nestlé Nutrition.
Before Nestlé, Laube served as Executive Committee member of Roche Holding AG and was operationally responsible for Roche Consumer Health. Earlier in his career he held positions of increasing responsibility in brand and general management at Procter & Gamble, including international assignments in Switzerland, the USA, Japan, Germany and Brazil. Mr. Laube is an experienced company director, having served as Chairman of Atkins Nutritionals Inc.
To facilitate this reorganisation and the broadening of the external perspective of the Board, Hugh McGuire and Brian Phelan will not be putting themselves forward for re-election at the 2019 Annual General Meeting (AGM).
Their key executive roles are unaltered and they will continue in their executive leadership positions as CEOs of the Group’s two global growth platforms, Glanbia Performance Nutrition and Glanbia Nutritionals respectively.
Paul Haran, Senior Independent Director, will retire immediately upon completion of the appointment of a third new Independent Non-Executive Director which is expected to be completed during 2019.
The Company will announce the appointment of the Independent Board Director to replace Mr Haran and changes to the composition of the Committees (which will continue to comprise only of Independent Non-Executive Directors) in due course.
Following Mr Haran’s retirement, Dan O’Connor will take up the position of Senior Independent Director. The role of Donard Gaynor, an Independent Non-Executive Director, has been expanded to include oversight of workforce engagement to further improve Board involvement in this area.
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