Synlait CEO Resignation Highlights Deeper Challenges Facing Dairy Processor
A revolving door of chief executives at milk processor Synlait is a warning sign, says Lincon University senior lecturer in agribusiness Nic Lees.
Milking It wonders hpw long its Chinese majority owner, Bright Dairy, will tolerate the losses.
The sale of Synlait's North Island assets this month will bring some relief.
Also, Synlait has seasoned industry stalwart Richard Wyeth as its new chief executive.
Wyeth was blunt in his assessment. He's bringing the focus back into the core areas of the business and adds that over the last 12 to 18 months, the business has been incredible reactionary, with very little commercial fixability or optionality. Ouch!
