Siobhan Talbot is set to succeed John Moloney as group managing director of Glanbia, at the end of this year — becoming the first woman to head up a major Irish food company.
Currently Glanbia’s group finance director — a role she has filled for the past four years — Ms Talbot will formally become group managing director-designate at the beginning of next month, with the appointment of a new group finance director expected “in due course”.
The move follows Mr Moloney — who has led the Kilkenny-based ingredients and dairy giant for the past 12 years and has been with the company for a quarter of a century — notifying the board of his intention to retire at the end of 2013, a year earlier than his initial due date.
Speaking yesterday, Mr Moloney said he felt it was “the right time, for all concerned” to change the leadership. He added that he was “delighted” at Ms Talbot’s appointment, noting her “drive, energy, deep knowledge and commitment” which “will move the group to the next phase of growth and development”.
He also noted the appointments of Hugh McGuire and Brian Phelan to the board, as “a major step in further developing Glanbia as a global ingredients and performance nutrition business”.
At Glanbia’s AGM Mr McGuire was appointed to the board as an executive director with responsibility for global performance nutrition (he has headed Glanbia’s performance nutrition division since 2008), while Mr Phelan was named CEO of Global Ingredients, a new division incorporating Glanbia’s US Cheese business and others, including its ingredient technologies unit.
“I am very proud of what has been achieved by the group and will leave secure in the knowledge that we are in a stronger position than ever to capitalise on the competitive advantages we have today in high growth markets,” Mr Moloney — who will also leave the Glanbia board, when he retires — added.
At yesterday’s AGM, Glanbia chairman Liam Herlihy — noting the dairy joint venture agreement with Glanbia Co-op and the group’s record results — hailed 2012 as an “exceptional” and “transformational” year for the business; adding that prospects for 2013 are good, with trading in line with expectations and set to remain so, mainly driven by the US Cheese & Global Nutritionals segment.
The board is targeting 8%-10% earnings per share growth for the current year.
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