Synlait Milk CEO Resigns Amid Company Restructuring

Grant Watson, Synlait Milk (NZX: SML) CEO, has stepped down after leading the company since January 2022. Tim Carter, CEO of Dairyworks, has been named as the interim CEO, effective immediately. This leadership change comes shortly after Synlait shareholders approved a $218 million capital raise aimed at stabilizing the company’s finances. Synlait’s chairman, George Adams, acknowledged the numerous challenges the company faced recently and praised Watson’s efforts in steering Synlait through tough times, particularly highlighting his role in the successful balance sheet reset. Watson’s departure signals a new chapter for the company as it continues its restructuring process.

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