Dairygold set for fresh elections following board resignations
A vote of no confidence in the board was passed at the annual general meeting of shareholders in Mallow last Tuesday. It followed sharp criticisms by shareholders about milk price, processing costs and the co-op's product mix. Operating profits dropped by 80% last year.
The no confidence decision was seen to have left the board members in an untenable position and resignations were deemed to be inevitable. Formal notice that nine board members had tendered their resignations at a meeting on Thursday have now been issued to each of the 209 members of the co-op's general committee. Eamon A Looney, secretary, stated in the letter that each of the resignations causes a casual vacancy on the board and further communication will be circulated at an early date.
The only board member not to resign, Terence O'Donnell, Killacluig, Mitchelstown, was only elected to the post in recent months.
Those who have decided to step down include Denis Cronin, chairman of the society since it was formed 13 years ago through the merger of Ballyclough and Mitchelstown co-ops. He was chairman of Ballyclough at the time of the merger and was due to retire in November after a lifetime's service to the movement.
Others who have resigned are vice-chairman John Walsh, William Blake, Vincent Buckley, Cornelius Hallahan, William Hickey, Patrick Kelleher, Terence O'Donnell (Kildorrery) and David O'Keeffe. The outgoing board of the €989 million turnover co-op is expected to remain in office until the vacancies created have been filled.
As the fall-out from the resignations was being assessed yesterday, Liam O'Flynn, Glanworth, Co Cork, a shareholder and supporter of the no confidence motion, welcomed the decisions and said what had happened was timely as the mood of farmers was such it was a bubble waiting to burst.
Mr O'Flynn said: "We wish them well and let's hope they would have the good sense now to take their retirement and not try to seek re-election."
A co-op spokesman said the executive had no comment on what was a matter for the board.
