Synlait Loses Third CEO in Five Years as Richard Wyeth Resigns
Troubled milk processor Synlait has lost its third chief executive in five years.
Speaking at Synlait’s annual meeting this month, Bright’s leading representative on the board Julia Zhu said that Bright’s support for Synlait remains steadfast.
She says Bright Dairy regards itself not only as a shareholder “but a significant stakeholder, deeply invested in the history and future success of Synlait”.
“We place tremendous value on the stability and sustainability of Synlait’s operations and its continued development,” she says.
“Our hope is to see Synlait deliver increased returns to all shareholders and stakeholders, not just in financial terms but in broader ways that reflect the share value and aspirations.”
Bright Dairy owns 39% in Synlait and has four board seats. Zhu says Bright directors on Synlait board have established a good working relationship with other board members.
Commenting on Synlait’s performance, she noted that the business environment was evolving.
“As the third largest player in China’s dairy industry, Bright Dairy views its investment in Synlait as a vital gateway to resources and capabilities in advances dairy related nutrition, not only for infants and children but extending to adults and elder demographics.”
