Tuesday, 09 August 2022 15:55

Synlait unveils new leadership model

Written by  Sudesh Kissun
Synlait chief executive Grant Watson. Synlait chief executive Grant Watson.

Canterbury milk processor Synlait says it is continuing on its road to recovery, announcing a refreshed strategy and a revamped leadership team structure.

Details of the refreshed strategy will be released next month when its full year results are announced.

In a statement to the New Zealand stock exchange, the company says the refreshed strategy will focus on its core business opportunities: advanced nutrition, ingredients, consumer (including fully-owned subsidiary Dairyworks) and food service.

A new expanded leadership team has been announced with Rob Stowell retained as chief financial officer.

Tim Carter, chief executive of Dairyworks, also becomes director of consumer.

Nigel Macdonald, director of operations, Suzan Horst, director of quality, regulatory and laboratory and Boyd Williams, director of people and culture are confirmed in new roles.

Five role remain unfilled - director of ingredients, director of advanced nutrition, President China and director of foodservice, director of on-farm excellence and business sustainability and director of strategy, Innovation and corporate affairs.

The revamps means some executive roles, director legal, risk and governance, director strategy and business transformation, director sustainability, brand, beverages and cream, and director nutritionals and ingredients roles - have been disestablished.

Two new roles, head of legal, risk and governance and head of information services, have been created and will report to CFO Stowell.

Synlait says it is working with staff who have been impacted.

It says the new role of director of on-farm excellence and business sustainability, elevates milk supply to the executive leadership team.

"The role will concentrate on the critical importance of milk supply, on-farm excellence, and sustainability to ensure Synlait’s milk pool remains highly competitive, while continuing to accelerate the company towards its sustainability targets on and off farm.”

Synlait says executive leadership team appointments will be announced to the market as they are made.

The new roles come into effect September 1.

In April, the listed milk company, 39% owned by China-based Bright Dairy, reported a net profit of $27.9 million for the six months ending January 31, 2022.

This was a whopping 338% more than the same period last year, which admittedly was a disastrous result for the company.

Last September Synlait reported a $28.5 million loss for FY2021, its first loss after nine years of profitability.

Synlait’s woes began in December 2020 when key customer and stakeholder a2 Milk suddenly reduced its demand for infant formula.

More like this

Deal to bring cost relief for farmers

Listed milk processor Synlait is partnering with rural retailer Farmlands to deliver exclusive discounts to farmer suppliers, who have been battling high farm input costs for the past two years.

Synlait's woes mounting

Synlait Milk's financial woes are mounting with farmer suppliers expressing concern about the state of the Canterbury milk processor.

Share tumble

OPINION: If you are an investor in listed Canterbury milk processor, Synlait then you may have a reason to be worried.

Featured

Sheep drench resistance costly

Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

National

Govt urged to reduce ETS units

The Climate Change Commission wants the new Government to reduce NZ Emissions Trading Scheme (ETS) auction volumes as son as…

Dairy sheep, goat woes mount

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand…

Machinery & Products

All-terrain fert spreading mode

Effluent specialists the Samson Group have developed a new double unloading system to help optimise uphill and downhill organic fertiliser…

Can-Am showcases range

Based on industry data collected by the Motor Industry Association, Can-Am is the number one side-by-side manufacturer in New Zealand.

» Latest Print Issues Online

Milking It

Papal visit

OPINION: European farmers are going to extreme lengths to have their message heard.

Thai egg tarts

OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter