At First Milk’s AGM today in Haydock, members supported the major governance proposals put forward by the Board.
The changes will create a smaller Board with greater commercial skills, and establish a new Council body to oversee the strategy of the business and represent the farmer owners.
Chief executive Mike Gallacher commented,
“I was very pleased at the level of member support for the governance proposals at the meeting. While the independent Greenburn Report made for tough reading, it was important that we went through this process and were transparent and open with members. We have incorporated the learnings into the governance proposals.
“Over the last few weeks, we have continued to make progress across a number of areas. We have completed the internal restructuring we announced in May with the resulting reduction in staff numbers and operating costs. We have completed a full strategic review with the Board, and we have strengthened the Board and Management team with the appointment of Brian Mackie as chief operating officer & Carl Ravenhall as non-executive director.”
The following resolutions were approved by members:
> Jim Baird was re-elected as a non-executive farmer director
> Mike Gallacher & Brian Mackie were elected as executive directors on the Board
> Robert Craig was newly elected as a non-executive farmer director
Sir Jim Paice stood down as chairman, with the current vice chairman Nigel Evans taking over as interim chairman. The recruitment process for this role will completed shortly.
