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Wednesday 02 February, 2022

Glanbia Co-operative

Glanbia Co-op - Leadership Appointments

RNS Number : 4589A
Glanbia Co-operative Society Ltd
02 February 2022

Glanbia Co-op announces leadership appointments

2 February 2022: Glanbia Co-operative Society ("Glanbia Co-op") has today confirmed a number of senior leadership appointments, effective from 4 April 2022:

· Michael Horan has been appointed as Chief Finance and Secretariat Officer for Glanbia Co-op. He is currently Group Company Secretary for Glanbia plc;

· Frank Tobin , currently Chief Financial Officer for Glanbia Ireland, will take up the newly created role of Chief Investments Officer for Glanbia Co-op;

· Joe Taneyhill has been appointed as Strategy Director for Glanbia Co-op.

On 10 November 2021, Glanbia Co-op announced the appointment of Jim Bergin as its new Chief Executive. Michael Horan, Frank Tobin and Sean Molloy (in his current role of Chief Agribusiness Growth Officer), will be co-opted as executive directors of Glanbia Co-op, with effect from 4 April 2022.

At their Special General Meeting on 17 December 2021, shareholders in Glanbia Co-op voted to acquire the remaining 40% shareholding in Glanbia Ireland from Glanbia plc. Currently, Glanbia Ireland operates as a strategic joint venture, 60% owned by Glanbia Co-op and 40% owned by Glanbia plc. This proposed transaction is subject to the approval of Glanbia plc shareholders at an Extraordinary General Meeting on 25 February 2022.

Co-op shareholders also voted strongly in favour of the creation of an Investment Fund worth approximately €150m.

John Murphy, Chairman of Glanbia Co-op, said that the Co-op Board was very pleased with the three appointments: "Having established a strong financial function for Glanbia Ireland since 2017, Frank Tobin will now lead the development of our Investment function to deliver potential Mergers and Acquisitions, Joint Ventures or Strategic Partnerships in line with our ambitious Corporate Strategy.

"Michael Horan brings a wealth of experience to his new role with Glanbia Co-op, both in finance and corporate governance. He is very familiar to Co-op shareholders through his involvement with Glanbia Co-op for many years.

"Since the formation of Glanbia Ireland, Joe Taneyhill has delivered an excellent strategy process in addition to negotiating and finalising the A-ware Joint Venture. I would like to wish all three every success in their new roles."

Frank Tobin joined the Glanbia business in 1980, working in senior Finance roles across Ingredients, Agribusiness, the Meat Division (UK & Ireland) and Consumer Foods. On completing an MBA in 2003, he took up the Chief Operations role for the Consumer Business. With the formation of Glanbia Ireland in 2017, he was appointed Chief Financial Officer. Frank Tobin has represented Glanbia on the boards of the National Milk Agency, National Dairy Council, National Dairy Association and the Malting Company of Ireland. He is currently a director of Glanbia Ireland.

Michael Horan spent six years in Almarai Dairy Company in Saudi Arabia as Finance Manager of the Arable Division and Group Treasurer. In 1998 he joined Glanbia as Finance Director of the Pigmeat Business in Ireland before becoming Group Financial Controller in 2002. He was appointed Group Secretary in 2005 and joined the Group Operating Executive of Glanbia plc in 2010.

In his role as Group Secretary, Michael Horan had responsibility for Corporate Governance, Group Risk Management and Insurance, Group Pension Schemes, Group Legal, Internal Audit, Group Quality Assurance and Co-op Secretariat. He is currently a director of Glanbia Ireland.

For the past 15 years, Joe Taneyhill has been developing and ensuring the successful implementation of business strategies for Glanbia. Prior to joining Glanbia, he worked in Investment Banking with JP Morgan and completed a MBA from London Business School.



Media enquiries :  Pat O' Keeffe 087-2414970




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