The board of dairy processor Dairygold has confirmed that it has appointed a new independent non-executive director.
Pat Gaynor, a former managing director at Bank of Ireland Corporate Banking, will replace Dan Flinter, who has served his maximum permitted term on the Dairygold board.
Gaynor retired from his Bank of Ireland role in November 2020, where he headed up its Irish and UK corporate lending business.
He will take up his Dairygold position in January next and will serve alongside independent business advisor Annette Flynn as one of two independent non-executive directors on the board of the processor.
Announcing the appointment, Dairygold chairperson John O’Gorman, said: “Pat is a recognised senior leader and influencer in banking and financial services, with over 40 years’ experience of commercial and corporate banking, during which he played a key role in the financing of the agri and dairy industry domestically and internationally.”
Acknowledging the work of the outgoing non-executive director Flinter, O’Gorman said he had given “sterling board service” over 10 years.
The chairperson added that Gaynor “will bring a wealth of business and finance experience to the Dairygold board to support the co-op’s continuing growth objectives”.
Dairygold milk price
In other Dairygold-related news, the processor revealed its milk price for August supplies last week, moving to increase its price.
In a statement on Friday (September 17), the southern cooperative announced that it has increased the August milk price by 0.5c/L.
This brings the August price to 36.25c/L based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
This milk price equates to an average August farm gate milk price of 41.2c/L, based on average August milk solids achieved by Dairygold suppliers, the co-op said.
The milk price for August based on EU standard constituents of 3.4% protein and 4.2% butterfat is 39.6c/L, it was added.