Wednesday, 30 October 2024 09:25

Brighter future

Written by Milking It

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OPINION: The abrupt departure of Synlait chief executive Grant Watson could be a sign that Chinese company Bright Dairy, the new majority owner of the listed company, is taking charge.

Watson was a key figure involved in negotiations that led to the troubled milk processor securing a lifeline. But with Bright now in control - lifting its stake from 39% to almost 65% - they get a free hand in deciding how the company is run.

Does Watson's departure also mean that the days of non-Bright directors on the board are numbered?

It's clear that Synlait needs to be run differently to ensure a brighter future. Early indications are that Bright Dairy is thinking the same.

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