09 April 1998
Milk Marque chief executive quits
By Boyd Champness
MILK Marque – the farmer-owned co-operative – was thrown into turmoil yesterday (Wednesday) following the shock resignation of its chief executive David Yeomans.
The decision was made following a board meeting last week. Paul Beswick, company secretary, will step in as the new chief executive.
Mr Yeomans, who has only been at the helm of Milk Marque since 1996, was said to be stepping aside to concentrate his efforts on a distribution company of which he is chairman.
Milk Marque has come under increased pressure since the beginning of this year, when it announced that it would offer processors an unprecedented fourth round of selling. A lack of interest from processors in the earlier three rounds forced the co-operative to discount milk a fourth time.
As a result, the price for a standard litre of milk has fallen from 20p per litre to 18-18.5ppl on 1 April. The last time milk prices were this low was in the early 1980s.
Milk Marques selling system is also currently under investigation by the Monopolies and Mergers Commission.