Glanbia under fire over plans to hike executive pay
And farmers demand answers on milk price ahead of company's AGM
Glanbia directors are expected to come under fire tomorrow over plans to hike chief executive Siobhan Talbot's multimillion euro pay package by a further 22pc.
Ahead of the Glanbia plc's AGM tomorrow, two prominent investor advisor groups have recommended rejection of the proposed salary increase.
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The plans to increase Ms Talbot's pay has angered many of Glanbia Ireland's farmer suppliers who were hit with a 1c/L cut for March milk supplies.
Glanbia Ireland has blamed volatile global trading and Brexit for negatively affecting market demand but its suppliers have reacted angrily to the proposed salary increase.
Dublin dairy farmer Brendan O'Donoghue said Glanbia is "blaming Brexit [for the cut in milk prices] but it doesn't seem to affect other co-ops who give 34.5c/L for milk.
"This new co-op model has to look at itself. It was built for the benefit of dairy farmers and it's not working," said the Glanbia supplier.
Denis Drennan, from Dunbell, Kilkenny asked why Glanbia is paying one of the worst milk prices in the country as dairy farmers are facing into peak production
And he questioned how anyone could be paid more than €1m, describing the proposed 22pc salary rise as "scandalous".