Michael Cronin, the interim CEO of North Cork Creameries has resigned from his position at the Kanturk-based co-op, the Irish Farmers Journal understands.
The move to step down as CEO comes after a week of acrimony at the struggling dairy processor.
At a board meeting on Tuesday night, Thomas O’Donoghue, who resigned as the chair last week, retook the position of chair replacing Seán Morrison - who only held the position for seven days.
On Tuesday, it emerged that the proposed deal for Carbery Group to process milk for a period of 10 years was off the table.
With a closure notice on the wastewater treatment, it means that the plant at Kanturk can only operate at limited capacity.
Over recent days, meetings have taken place between management and staff over planned redundancies at the facility. Who will resume these discussions in the absence of Cronin at the helm remains to be seen.
Finances
Fears are growing over the financial situation at the co-op, given that it has limited income as the milk from its suppliers is currently being processed by Carbery for an undisclosed price per litre.
Money for the milk supplied in February and March will be paid to North Cork Creameries which will then pay it out to farmers in addition to paying wages, salaries and contractors.
Liquid milk is still being processed at Kanturk, with wastewater and washings from the plant being trucked by contractors to other waste water plants in the locality for treatment.
According to the 2024 accounts, the co-op has a workforce of 126 people and debt of €7m.
More to follow.
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