Dairygold registers new rule book
The rule book met with near unanimous approval at a special general meeting attended by 2,575 shareholders in Mallow last month.
Dairygold, a €1 billion a year turnover food processing giant, said the compilation of the rule book took account of the best national and international practice in co-op administration.
It involved the undertaking of the most comprehensive shareholder rule change consultation programme ever undertaken in the co-operative movement.
Application of the new rule book will become evident with the election of a 60-strong general committee in the coming months to take over responsibilities formerly held under the old rules by a general committee of 209.
Dairygold said the rule book will ensure that the key decision-making powers are held in the hands of user members.
It will also ensure that the financial rights of all shareholders trading and non-trading are preserved and protected, and provides for improved democratic accountability with more powers for members, more clearly expressed than ever before.
"This new rule book also provides a roadmap for good governance, streamlining decision-making procedures and putting key decision-making power in the hands of shareholders. The rules ensure that active shareholders whose livelihoods are dependent on the co-op's success retain control of Dairygold.
