Dairygold has remained silent on reports that former chief executive Jerry Henchy has filed a suit against the company seeking damages over the alleged non-payment of his severance package.
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According to Irish reports, Henchy has claimed damages of up to EUR3m (US$4.2m).
Shortly after Dairygold span-off from Reox Holdings last year, the Irish dairy cooperative said it would no longer be using the services of Henchy – who had served as CEO of both group’s simultaneously – and would appoint its own full-time chief executive.
Henchy’s contract with Reox was subsequently terminated at the end of March.
A source close to the situation told just-food that the position was made redundant as top jobs at the company were absorbed into a “new management structure”.
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By GlobalDataIt is understood that the dispute centres on the issue of whether Henchy is entitled to a compensation package as a Dairygold employee, or whether he was a Reox employee while he served as Dairygold CEO.
A spokesperson for Dairygold declined to comment when contacted by just-food.
