Reox Holdings has confirmed the departure of its chief executive Jerry Henchy.

A source close to the situation indicated that the position was made redundant as top jobs at the company are absorbed into a "new management structure".

Shortly after Reox spun-off from Irish dairy cooperative Dairygold, the latter said it would no longer be using the services of Henchy - who had served as CEO of both group's simultaniously - and would appoint its own full-time chief executive.

The news comes just a year after Henchy announced the sale of Breeo Foods to Kerry Group for EUR165m (US$226m).

The Irish competition aithorities had moved to block the deal and a decision on Kerry's appeal against the ruling is expected later today (19 March).

Reox Holdings has around 7,500 registered shareholders and 25% of the company is held by the Dairygold Co-Operative.