Ornua has announced the appointment of Anne McFarland and Anne O’Leary as independent non-executive directors.
Both appointees are chartered accountants with over 40 years’ experience.
Anne McFarland
McFarland currently runs her own finance and governance consultancy business and her career has included senior finance roles and directorships with private and listed firms across multiple international markets.
Most recently she was an independent director for Botswana Diamonds PLC, an exploration company, and she has also held senior executive financial positions in Glencore, a global producer and trader in natural commodities, and Segezha Packaging, a multinational manufacturer of packaging.
She was based in Moscow, Russia, for both of the latter positions.
McFarland, who is a published author on corporate governance, has a BA from Trinity College Dublin; a Diploma in Corporate Governance from UCD; and a Diploma in Law and Sport from the Law Society of Ireland.
Anne O’Leary
Anne O’Leary, most recently, was senior audit partner with Ernst & Young where she advised a range of international clients across a range of sectors.
As an audit partner and advisor, O’Leary worked with an Irish dairy processing company for over ten years.
She has experience in financial analysis and financial reporting, having advised on acquisitions, divestments, restructuring, and debt refinancing.
She has served, and continues to serve, on a number of charitable boards, including South Munster Money Advice and Budget Services Limited.
Announcing the appointments today (Sunday, April 11), Ornua chairperson Denis Cregan said: “These key board appointments cement the new governance structure we started to implement last year to underpin the delivery of Ornua’s ambitious expansion plans.”
Meanwhile, Ornua chief executive John Jordan said: “The appointments…represent an important step in the strengthening of Ornua’s board, deepening our expertise and enhancing our international perspective, as we face the continuing challenges of operating in a complex global trading environment.”
Ornua governance structure
Ornua says that the appointments of McFarland and O’Leary represent the ‘final step’ in its new governance structure.
The Ornua Board now consists of eight appointees from member suppliers “on a non-conflicted basis”; three independent non-executive directors; an appointee from each of the Irish Farmers’ Association (IFA), the Irish Creamery Milk Suppliers’ Association (ICMSA) and the Irish Co-operative Organisation Society (ICOS); and two Ornua Executives.
Ornua argues that this structure “delivers a modern, fit-for-purpose co-operative governance model while maintaining a crucial link between Ornua, its members and its farmer shareholders.”