THE CHIEF executive of the Irish Dairy Board, Noel Coakley, resigned from his position yesterday to pursue other business interests, according to an IDB statement.

Mr Coakley, born in Clonee, Co Meath, had only been in charge of the organisation since April 2006, when he took over from Dr Noel Cawley.

The statement said Mr Coakley had joined the board in 1983, and contributed strongly to its success in terms of his personal dedication and the skills which he brought to the various roles he filled.

IDB chairman Michael Cronin said the board expressed its appreciation to Mr Coakley for his commitment and contribution, and he wished him every success in the future.

Mr Cronin said the board would consider the appointment of an interim chief executive and would also consider an appointment process for a new chief executive at its board meeting next week.

He said he would also work with senior management to support the Irish Dairy Board’s progress over the coming months.

“The Irish Dairy Board is strongly focused on the creation of new business development opportunities, both in Ireland and globally.

“ We are developing an increasingly diversified path to market, and we have the international experience, scale, and resources to continually add value to Ireland’s dairy industry in the years ahead.”

Under Mr Coakley’s leadership the IDB was reorganised in 2007 when the board had a good year with turnover up 5 per cent to €2.11 billion and an operating surplus of €35.5 million.

While there was an improvement in financial performance in the latter half of last year, the annual report for 2008 is likely to show a significant drop in the operating surplus which, in turn, will impact on the bonuses the board can pay to its member co-ops.

The president of Irish Creamery Milk Suppliers Association, Jackie Cahill, said the dairy sector and the IDB must now adopt a dynamic approach to overcome the many challenges within the world dairy markets. He was confident that the IDB could deliver on those challenges.