Synlait Milk CEO resigns

New Zealand milk processing business Synlait Milk Limited (Synlait) has announced the resignation of its CEO, Grant Watson, who had been in the role since January 2022.

According to Synlait Chair George Adams, there have been some challenges in recent months but he said Watson had “ably led the team through them”.

“Grant’s tenure has been incredibly busy — notably resetting Synlait’s strategy to reduce our customer and market concentration risk, commercialising plant-based production at Pokeno and our Foodservice business in Canterbury, extending our reach into South-East Asia, maintaining our China market access, and building an outstanding executive team,” Adams said.

Watson said he had been honoured to lead the company. “Working with our passionate employees and farmers who care deeply about Synlait’s success has been a privilege. Our team’s determination and dedication to deliver has also been a real highlight. I wish Synlait all the best for a successful future.”

The Synlait Board will now commence a global recruitment process; however, Dairyworks CEO Tim Carter has been appointed Acting CEO.

Under Carter’s leadership, Dairyworks has performed well over the past six years, recently delivering a record EBITDA result due to strong sales growth, operational stability and low staff turnover.

Aaron Kenny, Dairyworks’ CFO, will act as Dairyworks CEO in the interim.

Image credit: iStock.com/SimonSkafar