Walsh to step in at Glanbia
The retirement of Mr Corcoran (65), who farms at Bohadoon, Dungarvan, Co Waterford, had been signalled for some months, and has nothing to do with the recent no-confidence vote in the board of Glanbia Co-op, by shareholders critical of a milk price cut.
One of the most respected leaders in the Irish dairy industry, Mr Corcoran has served as chairman of the plc and co-op for the last five years.
He played a key role in streamlining the group after the merger of the Waterford and Avonmore Co-ops.
Mr Corcoran's part in developing Glanbia into a €1.8 billion turnover international dairy, consumer foods and nutritional products company has been widely praised.
Group Managing Director John Moloney paid tribute to his leadership, deep commitment and support in the group's recently published annual report.
"He chaired Glanbia through challenging times and steered the group to where we are now, clearly en route with our development strategy," he said.
Reflecting in the report on his years in office, Mr Corcoran said the board and management have made difficult and far reaching decisions to re-orientate Glanbia in a new direction. "This year, we began to realise the benefit of the steady implementation of the group's development strategy and, going forward, the group is well positioned for growth," he said.
Mr Corcoran, who is a vice president of ICOS and a director of both the IAWS and of the Waterford LEADER partnership, was recently appointed chairman of the new National Cattle Breeding Centre.
Michael Walsh (62), hot favourite to succeed him as Glanbia chairman, farms at Coolroe, Graiguenamanagh, Co Kilkenny.
