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New Zealand 13.12.2023

Synlait Search for New Chair

Source: The DairyNews
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The quest for a new chair at Synlait, the troubled Canterbury milk processor, is making progress, according to acting chair Paul McGilvary.
Synlait Search for New Chair
The board's nominations committee, consisting of Ruth Richardson, Paul Washer, and McGilvary, is evaluating potential candidates. McGilvary emphasized the determination to appoint a strong chair with the requisite experience to navigate through challenges and restore growth.

The focus is on quality over speed, and once the chair-elect is chosen, McGilvary will return to his role as an independent director, ensuring a smooth transition. Despite the recent financial setbacks, Synlait is strategically addressing debt reduction, operational improvement, customer relationships, and employee retention under McGilvary's interim leadership.

Synlait is the only processor in NZ to have the B Corp certification, which it first received in June 2020.

B Corp certification demonstrates that the company has been audited to the very highest standards of social, environmental performance including public transparency and legal accountability.
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February 2024
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