Wyeth to head Synlait
Former Westland Milk boss Richard Wyeth is taking over as chief executive of Canterbury milk processor Synlait from May 19.
The company also lifted its advance rates for the season effective from August paid September from $4.50kgMS to $5kgMS.
Synlait Milk announced last week that it will process more milk than forecast this season following a decision to take a significant allocation of DIRA milk that will increase total production volumes of its ingredients products.
Synlait Milk managing director John Penno says the company remains confident in achieving its forecast financial result for FY2014.
"Higher than forecast revenue from high commodity prices and additional processing volumes mean we remain confident of achieving our FY2014 earnings targets at these increased milk prices."
