Board and Management Changes

RNS Number : 8128S

Glanbia PLC

12 November 2013

 



BOARD CHANGES

Siobhán Talbot takes up Glanbia Group Managing Director Role

Mark Garvey appointed new Glanbia Group Finance Director

12 November 2013 - Glanbia plc, the global performance nutrition and ingredients group (the 'Group', 'Glanbia'), today announces a number of changes to the Board and Executive team.

John Moloney has today formally resigned from the Board of Glanbia and as Group Managing Director, though he will remain with the business until the end of the year.  In addition, he will continue on the Board of Glanbia Ingredients Ireland Limited, the Group's 40% Associate.  This follows Glanbia's announcement last May that John wished to retire in late 2013 and that Siobhán Talbot would succeed him.  Siobhán, who has served as Group Managing Director Designate since June, becomes Group Managing Director with immediate effect.  She was previously Group Finance Director, where her role encompassed responsibility for Group strategic planning. She has been a member of the Board of Glanbia since 2009. In addition, the Group has appointed Mark Garvey to replace Siobhán as the Group Finance Director.  Mark will also join the Board of Glanbia from today.

About Mark Garvey

Mark joins Glanbia from Sara Lee Corporation where he was Executive Vice President & Chief Financial Officer until 2012. Sara Lee, a leading global food and beverage company with operations in over 40 countries, was reorganised in 2012 as two separate listed companies - DE Master Blenders and Hillshire Brands - a decision which Mark facilitated and executed with the Sara Lee Board. Since 1995, Mark held a number of senior finance roles in the Sara Lee organisation in the USA and Europe including Chief Financial Officer (CFO) of Sara Lee North America with revenue of $6 billion and Group CFO of Sara Lee International with revenue of $8 billion. Prior to Sara Lee, Mark worked with Arthur Andersen in Ireland and the USA as a Manager in various audit and advisory roles. Mark brings a wealth of international, industry, regulatory and finance experience to his new role in Glanbia. This includes both equity and debt investor relations, acquisitions and divestments, accounting, tax, treasury, IT and procurement.  Mark is a fellow of the Institute of Chartered Accountants in Ireland, the American Institute of Certified Public Accountants, has a Bachelor of Commerce and Diploma in Professional Accounting from University College Dublin and an Executive MBA of Northwestern University, Illinois. He is relocating back to Ireland in his new role and will be based at Group headquarters in Kilkenny.  Mark has notified the Company that he has no details to be disclosed as required under Paragraph 6.6.7 Chapter 6 of the Irish Listing Rules and Paragraph 9.6.13, Chapter 9 of the UK Listing Rules.

Commenting today, Liam Herlihy, Chairman said:

"The Board is delighted to announce the appointment of Mark Garvey as Group Finance Director. Mark brings an excellent range of skills to his new role which are very complementary to the Glanbia Executive and Senior Management team. It is a great testament to the growth opportunity that Glanbia offers that we can attract back to Ireland an individual of Mark's calibre and international experience.

The Board would like to thank John Moloney, our departing Group Managing Director, not just for his outstanding contribution to the Group but also for enabling a seamless transition of the leadership of Glanbia to Siobhán Talbot, our new Group Managing Director. We are at the beginning of an exciting next phase of development and the Board is confident that we have the leadership and skills we need to achieve sustainable growth across all our business segments, here in Ireland and globally".

For further information contact

Glanbia plc [phone] 

Siobhán Talbot, Group Managing Director

Shane Power, Group Investor Relations Manager [phone]

Geraldine Kearney, Corporate Communications Director + 353 87 231 9430

 

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