After more than four decades in finance, including 13 years as Glanbia’s chief financial officer, Mark Garvey will retire from the business next year.
Garvey will leave the company on 30 April 2027, with Wendy Chang Smith, Glanbia’s current chief digital and transformation officer, named as his successor.
Smith previously served as CFO of Glanbia’s Performance Nutrition division for three and a half years. Before joining the group, she held senior finance roles with major FMCG companies including Amazon, Kellogg, Johnson & Johnson and Proctor & Gamble. Her international experience spans the US, Europe and Asia.
Following the announcement, Smith will become CFO Designate with immediate effect. She is scheduled to take up the CFO position and join Glanbia’s board as an executive director on 31 March 2027.
Commenting on his retirement on Linked In, Garvey said: “It has been a privilege to serve Glanbia’s shareholders, board and people through a period of real transformation.
“I’m proud of what we’ve achieved together and of the strong financial foundation the group stands on today. The most rewarding part though, has been the people – I am incredibly thankful for the trust placed in me and for the exceptional colleagues (current as well as former) I’ve had the pleasure of working with and learning from.
“I’m also delighted to congratulate Wendy Chang Smith on her appointment as Glanbia’s CFO Designate. Having worked closely with Wendy for a number of years, I know the group’s finances will be in excellent hands — she brings a strong combination of deep finance experience as well as digital and transformation expertise. I wish Wendy every success in her new role.
“Plenty still to do between now and April – I look forward to working closely with Wendy in the coming months to ensure a smooth transition and to planning the next chapter in due course.”
Glanbia CEO Hugh McGuire also welcomed Smith’s appointment.
“Wendy is a trusted leader within the company and brings significant finance, digital and transformation experience gained across the consumer branded and retail sectors,” he said.
“Her experience will be invaluable as we continue to execute our strategy, invest for growth and maintain our strong focus on financial discipline and delivering long-term value for shareholders.”
McGuire added: “I would also like to warmly thank Mark for his outstanding leadership and significant contribution to Glanbia over the past 13 years.
“He has led the financial stewardship of the group through a period of significant change with a strong focus on disciplined capital allocation and cash generation that has enabled Glanbia to invest in growth and deliver strong returns to our shareholders.
“Mark leaves Glanbia on a firm financial footing, with an exceptionally strong balance sheet and well positioned for the future.”
The succession comes as businesses across the food and beverage industry respond to changing food and beverage industry trends. Developments in food manufacturing trends, food processing technology and food distribution trends continue to influence investment and operational planning, while food and drink industry innovation remains central to competitiveness.
At the same time, companies must address food and drink sustainability priorities, evolving food and drink regulations, advances in food and drink packaging, changing food and drink marketing strategies and shifting food and drink consumer trends.
