Synlait Names Leon Fung Permanent Chief Executive
Leon Fung has taken permanent charge of Synlait Milk, following a five-month period as interim chief executive. He joined the company’s board in June 2024 and assumed executive responsibilities after Richard Wyeth left the chief executive position. The board said the decision would provide continuity while Synlait addresses its finances and reshapes its strategy.
Fung has more than 30 years of experience in dairy processing, food technology and commercial management across Australasia and Greater China. He began his career as a plant operator and technologist in Whangārei after studying food technology at Massey University. He later worked on processing-equipment engineering and turnkey projects for Tetra Pak during the expansion of China’s dairy industry.
His previous senior roles included responsibility for Yashili’s nutritional-powder plant in Pōkeno, Nutricia’s infant-formula manufacturing operations, Danone New Zealand and NiG Nutritionals. Synlait’s facilities include spray-drying plants in Dunsandel and specialist packaging operations in Auckland. Fung’s background includes cleanroom production, automated drying systems and compliance requirements for international infant-nutrition manufacturing.
The appointment comes after several quarters in which Synlait experienced commercial volatility and adjusted product volumes. The company reported improving activity in specialised ingredients during the later months of the 2026 financial year, including pharmaceutical-grade lactoferrin, adult nutrition powders and clinical products. It is also revising its manufacturing arrangement for infant formula supplied to China in response to updated registration requirements and changing demographic conditions in East Asia.
Synlait has been directing capacity towards specialised protein fractionation and consumer-packaging products. Earlier in the year, it undertook debt restructuring and recapitalisation measures. The Canterbury-based company has been working with cornerstone shareholder Bright Dairy and its lending syndicates on debt maturities and financing costs. Management has also identified the restoration of operating cash flow, tighter control of capital spending and the adjustment of debt covenants to earnings as priorities.
Maintaining its farmer-supplier base is another part of the recovery plan. Synlait relies on contracted milk suppliers in Canterbury and Waikato and has sought to support retention through base-price advances, incentive payments linked to Lead with Pride sustainability certification and timely settlements. Earlier operating uncertainty had raised concerns about supplier retention in the South Island milk-supply area. The company is linking improvements in processing efficiency with its supplier-payment commitments as it works to protect milk intake and factory utilisation.
