A new era is set to begin tomorrow (Tuesday, December 7) for the board of Kerry Co-op.
Elections are taking place in Tralee for the positions of chair and vice-chair on the board.
Mundy Hayes, who has held the role of chair of Kerry Co-op since 2016, recently announced that he has decided to step down at the December board meeting.
“After five years at the helm, leading the board of the co-op in what has been a hugely challenging period, I feel now is the right and appropriate time for change and a fresh perspective,” Hayes told Agriland.
Election
The election of 20 directors of the board concluded last Wednesday (December 1) and some new faces have made it to the top table.
The Kerry Co-op board members for 2021/2022 are:
- Mundy Hayes;
- John O’Sullivan;
- Shane Wall;
- John Fitzmaurice;
- Martin Griffin;
- John O’Connor;
- Conor Creedon;
- Patrick Hanafin;
- Patrick Rohan;
- Denis Carroll;
- Eoghan McCarthy;
- John Casey;
- Jim McInerney;
- Pat O’Donoghue;
- James Tangney;
- Fiachra Liston;
- Seamus Crawford;
- Victor Gardiner;
- Denis Donovan;
- James O’Keeffe.
Last year, the number of directors on the Kerry Co-op board stood at 21. In the coming 12 months, it will reduce further to 19, following rule changes.
The contenders?
Denis Carroll and James Tangney are both expected to throw their hats into the ring for the top job at the meeting, which begins at 11:00a.m tomorrow.
Carroll has held a seat on the board for three years and was on the advisory committee for 24 years.
Tangney was elected to the board of directors last year.
There is no deadline ahead of the meeting by which candidates must declare their intention to contest for the position.
According to a statement, outgoing chair, Mundy Hayes said he is intending to remain “an active director of the board for the coming 12 months”.
He has said he will be available to his successor “to ensure a smooth transition”.
Kerry Co-op future plans
Whatever candidate succeeds Hayes will be taking over the reins at a crucial juncture for Kerry Co-op and the future of milk production in the southwest.
The major issue at hand will be if a potential deal can be struck in relation to the Kerry Group dairy business.
In April, discussions between Kerry Co-op and Kerry Group on a possible joint venture deal were suspended, after 18 months of talks between the parties.
Concerns were voiced at the time from milk suppliers and shareholders that their views and engagement should be sought in advance of any deal being struck.
The new chair will also be aiming to resolve outstanding issues around the long-running ‘leading milk price’ dispute and patronage shares.
Kerry Co-op SGM
Meanwhile, it has been confirmed that a Kerry Co-op Special General Meeting (SGM) to consider two resolutions has been pushed out to 2022.
The majority of advisory board members indicated their preference for an in-person meeting. However, a date for the SGM is yet to be confirmed due to the ongoing Covid-19 pandemic.
The first resolution is to add the Share Redemption Scheme to the Kerry Co-op rule book; it means Kerry Group plc shares held by the co-op will be ringfenced for redemption through this or future schemes.
These shares will be used to fund the redemption scheme.
The second proposed change relates to milk suppliers. The resolution, if passed, would reinstate ‘A’ category status of these shareholders, who supply milk through a company.
Shareholders are being contacted this week about the meeting.