New rulebook huge boost for Dairygold

DAIRYGOLD shareholders yesterday gave their board of directors a massive vote of confidence and adopted a new rulebook for the near €1 billion turnover co-op.

The decisions taken at annual and general meetings of the society held at Cork Racecourse Mallow are a huge boost for the dairy giant as it restructures itself to meet future challenges. Dairygold described the support at the meetings, which lasted nearly four hours, as overwhelming in a turnout of 2,575 shareholders.

It said a proposal for a vote of no confidence in the board was sidelined when shareholders instead voted confidence in the directors with only eight members objecting. The vote in favour of adopting a new rulebook for the Society was "virtually unanimous".