British dairy farmers’ co-op First Milk has announced that its chief executive Mike Gallacher is stepping down, with Shelagh Hancock lined up as his replacement.
First Milk estimated the changes have driven a £30m improvement in the financial performance of the business, improving returns to members in the process.
Mr Gallacher said: “I am very proud of the huge progress made by all First Milk employees in transforming the business and in delivering improved results for our members. First Milk is now a very different business and customers and members can be confident in its future as a British dairy co-op.”
New CEO Shelagh Hancock has over 25 years’ experience in the food and agricultural supply sectors, most recently as managing director and business development director at Medina Dairy where she developed strategic relationships and business growth with major retailers.
She previously held a number of senior executive positions at farmer-owned co-op Milk Link.
She said: “As a firm believer in the principle of farmers working together for the benefit of each other, I am delighted to be working again for a farmer co-operative. I strongly believe that First Milk has got a bright future and as a British farmer owned co-op we’ve got great credentials to build on.
“There are still further opportunities to develop the core business and I am confident that we can continue to build a strong and vibrant co-operative capable of creating value for its customers, and most importantly for our members.”
First Milk chair Clive Sharpe said: “Mike has led First Milk through a period of huge change, with enormous levels of energy and focus. In addition to delivering a real transformation in our business performance he has also built an effective team and put in place the modern governance processes that will underpin our future success.
“Mike’s departure is not a surprise as he has been open about his plans. On behalf of the members and the board, I want to express our appreciation for the outstanding results he has delivered. Both Mike and I are delighted at the appointment of Shelagh who brings a wealth of experience to the role.”
