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Only the independent non-executive directors now left to be appointed to Kerry Dairy Ireland board.
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Kerry Co-op has chosen seven people to serve on the board of Kerry Dairy Ireland alongside representatives of Kerry Group plc, with a couple of external independent directors joining them too.
Last major hurdle for deal overcome at meeting of Kerry Group shareholders in Tralee.
The agreement will see Kerry Group pay a €50m lump sum to suppliers which will work out at 5.4c/l.
The move means big change in the relationship between the existing Kerry management and milk suppliers.
There can't be any ifs or buts, this was a decisive outcome, that leads to a completely new tomorrow.
Overwhelming support from members for proposal at Monday’s meeting in Killarney.
Monday’s vote for Kerry Co-op shareholder will decide on the future direction of the Co-op and the Kerry Dairy Ireland business, writes Aidan Brennan.
Monday's vote offers Kerry suppliers the opportunity to buy their dairy processor, but they need their fellow shareholders to vote with them in this deal.
Two processors have announced a lift in November's milk price, while Lakeland Dairies is to pay a top-up for 2024's supplies next month.
