Kerry Group Chief Executive Stan McCarthy has stepped back from an executive role with Kerry Co-op, the Group’s largest shareholder, a spokesperson for Kerry Group confirmed to Agriland this morning.
The spokesperson said that while McCarthy would be stepping back from this role, Kerry Group will continue to provide support services to the Kerry Co-op.
“Mr McCarthy is Chief Executive of Kerry Group plc which runs the business of Kerry Group. The Co-op represents the members of Kerry Co-op Society, who hold 13.7% of the shares in Kerry Group.
“It has provided executive services to the co-op and the company confirms that it will continue to do so.”
McCarthy’s resignation comes as Kerry suppliers are still angered around the co-op not set to pay its milk suppliers a thirteenth payment.
Following a meeting with Kerry Co-op earlier this year, ICMSA’s Dairy Committee Chairman, Gerald Quain said that Kerry Co-op is not set to pay its milk suppliers a thirteenth payment.
Quain said that there was ‘huge and growing’ anger amongst Kerry suppliers around the fact that there is currently no proposal to make a thirteenth payment to farmers.
Suppliers to the co-op believe this payment to be fully justified given the milk price paid by Kerry relative to other processors during 2015.
“Kerry suppliers signed-up on the basis of that commitment to pay leading milk price and they now believe that this commitment is not being delivered upon.”
