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LacPatrick CEO To Step Down After Discussions With The Board

LacPatrick Dairies has announced that, after discussions between its board and CEO Gabriel D’Arcy, it has been agreed that D’Arcy will depart the company.

In a statement made on the group’s website, chairman Andrew McConkey wished D’Arcy and his family all the very best for their future and thanked him for his efforts in the company.

“It has been an honour to serve LacPatrick and its shareholders,” D’Arcy said. “I would like to thank the chairman, the board, management, staff and shareholders for their support and assistance in transforming LacPatrick over the past four years.”

Strategic Options

The first half of 2018 has been an interesting time for Monaghan-based LacPatrick, as it announced on 17 April that it would be interested in pursuing "a number of strategic options".

Since then, a number of Irish dairy co-ops have expressed an interest in a merger with the group or admitted that it was monitoring the situation.

However, at the end of June, it was announced that the boards of LacPatrick and Lakeland Dairies had entered exclusive discussions regarding an amalgamation of the two groups.

In early July, the group announced that it would host a shareholder vote on the topic.

© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition. 

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