Larry Goodman puts eldest son in key succession position

Businessman Larry Goodman has set up a supervisory board over his beef-to-property empire, putting his eldest son in a key succession position. The move puts order over the long-term direction of the Goodman family’s interests.

Mr Goodman (84) has become chairman of the supervisory board over the family’s ABP Food Group and Parma investments arm, which have a combined annual turnover of more than €4.5 billion and employ 15,000 people across nine countries, the group said in a statement after staff were informed of the development on Thursday.

The overhaul sees Mr Goodman step down from the board of ABP Food Group, the largest beef processor in Ireland and Britain, which dates back to 1954. However, his son, Laurence Goodman jnr (40), will join both the board of ABP Food, where he has extensive prior experience at both plant and divisional level, and the overarching supervisory board.

The beef magnate’s younger son, Mark Goodman (37), who resigned as managing director of ABP International a year ago, has also stepped down from the board of ABP Food, according to the statement. He established an investment company this year, called Bellingham Capital, to target opportunities in the agribusiness, food and renewable energy fields across Ireland and Britain.

 

 

By Joe Brennan / The Irish Times