Glanbia ponders next move after AGM vote

THERE is no legal obligation on the board of Glanbia to resign following a vote of no confidence, sources said yesterday.

The implications of the vote of no confidence passed by shareholders of Glanbia Co-op in their board at the annual general meeting in Kilkenny are still being assessed within the food giant.

Various informed sources maintained there was no legal obligation on the board to resign, but others pointed to a precedent set by the board of Dairygold Co-op in somewhat similar circumstances two years ago.