Synlait Milk Limited has appointed Richard Wyeth as its new Chief Executive Officer, with his tenure set to begin on 19 May.
Wyeth has previously served as CEO of Westland Milk Products and Miraka. He also played a key role in establishing Open Country Dairy and has held management positions at Coca-Cola Amatil and DB Breweries.
George Adams, Chair of Synlait, said Wyeth is a seasoned, tested, and highly regarded CEO in New Zealand’s dairy industry.
“Synlait is extremely fortunate to have the opportunity to benefit from Richard’s extensive experience growing companies in our sector. He has positively transformed dairy companies, and we are excited he is joining Synlait.”
On his appointment, Wyeth said, “Synlait’s fundamentals are strong. The fact it’s now on track to return to profitability, after overcoming a list of challenges, reflects exceptional capability within the team. I’m looking forward to getting to know Synlait’s farmers and staff to build on, and support, the turnaround story, which is already underway.”
Tim Carter will continue as Acting CEO until Wyeth begins and will then return to his role as CEO of Dairyworks, a Synlait subsidiary.
Adams acknowledged Carter’s contribution, stating that the Board is extremely grateful for Carter’s leadership as Acting CEO.
“Momentum is building within Synlait. Tim has played an instrumental role in driving this step change in the company’s performance and ensuring we are on track to return to profitability at half year.”
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