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Former Dairygold boss seeks €3m damages

Former Dairygold chief Jerry Henchy looks set to have a multi-million euro High Court showdown with his former employer.

Mr Henchy, who ran Dairygold and Reox Holdings until 2008, is seeking in the region of €3m in damages and loss of earnings.

His suit relates to alleged non-payment of his severance package, and he intends to submit evidence about loss of earnings during the trial.

The case relates to the circumstances of Mr Henchy's termination.

A trial date has been set for January 29, 2013, and all legal papers have been submitted.

While the suit was originally filed in 2009, there hasn't been any hearing yet.

Mr Henchy led Dairygold at a time of huge change, with staff numbers cut from over 3,000 to one-third of that at the co-op, cost-cutting and an exiting of the pig-processing business being completed.

He also led the spin-off of Dairygold's consumer foods, property and DIY operations into Reox and several other entities.

Following Dairygold's spin- off from Reox Holdings in 2008, Mr Henchy's time as CEO of both groups concluded.

Dairygold is one of the country's biggest milk giants, processing more than 18 per cent of the entire Irish milk pool. The Munster-focussed food firm has three key divisions -- milk processing, retail and agribusiness. It also has a huge baby-milk business, supplying close to 16 per cent of the world's output each year.

The businessman spends much of his time raising a large herd of award-winning Irish Angus cattle on his lands at Friarstown, Kilmallock, Co Limerick.

He's known in cattle-rearing circles for his prize Angus bulls.

"Dairygold declines to comment on the case," the company's spokesman said yesterday.

Mr Henchy was not available for comment.

Sunday Indo Business