Dairygold no comment on ex boss suing firm

DAIRYGOLD has refused to comment on reports its former chief executive Jerry Henchy is suing the co-operative for up to €3 million in a dispute over the alleged non-payment of his severance package.

Mr Henchy was told in January that his services were no longer required by Dairygold and he immediately departed from the role.

Speculation is mounting however that Mr Henchy, who had his Reox contract terminated in March has filed High Court proceedings.

The dispute is understood to surround whether Mr Henchy is entitled to a compensation package and a point of issue is believed to be whether he was directly employed as chief executive of Dairygold or seconded while remaining a Reox employee.

Mr Henchy could not be reached for comment yesterday.

He led a spin-off of Dairygold’s consumer foods, property and DIV operations into Reox three years ago.

Earlier this month Dairygold announced the appointment of dairy science graduate Jim Woulfe as its new chief executive.

Mr Woulfe, 49, has been head of Dairygold’s agri-division since 2002.

The process of appointing a new chief executive took several months to complete.