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New Zealand dairy producer Synlait Milk’s chief executive officer, Grant Watson, has resigned with immediate effect, after being at the helm since January 2022.

Synlait Chair George Adams praised Watson’s leadership during a critical period for the company: “Recent months have seen a long list of urgent challenges for Synlait, and Grant’s ably led the team through them,” Adams said. “His achievements are extensive and notably include our balance sheet’s recent, successful reset”.

During his tenure, Watson restructured Synlait’s strategy to mitigate risks from over-reliance on specific customers and markets. Notable achievements include the expansion of plant-based production at its Pokeno facility, growth in its foodservice business in Canterbury, New Zealand, and increased market penetration in Southeast Asia. He also maintained Synlait’s crucial market access to China and built out the company’s executive team.

Reflecting on his departure, Watson stated: “Synlait is an amazing and agile company, which I have been honoured to lead. Working with our passionate employees and farmers who care deeply about Synlait’s success has been a privilege. Our team’s determination and dedication to deliver has also been a real highlight. I wish Synlait all the best for a successful future.”

Prior to Synlait, Watson was CEO of dairy company, Miraka, and before that, he spent ten years at Fonterra where he held several senior roles including director of global foodservice, managing director of Tip Top and director of route and foodservice Fonterra brands New Zealand.

“Grant will take a well-deserved break before deciding his next career move,” Adams added. “He has set a strong platform for Synlait going forward, the board is extremely grateful for this and wishes him all the best.”

The board plans to commence a global recruitment process to fill the position of CEO.

From today, Dairyworks’ CEO Tim Carter has been appointed acting CEO of Synlait. Before Dairyworks, Carter held positions at Fonterra, including director of sales at Fonterra brands NZ, director of sales at Fonterra Australia and general manager of foodservice and route Fonterra brands.

Aaron Kenny, Dairyworks’ CFO, will act as Dairyworks CEO in the interim. Synlait purchased Dairyworks in 2019 as part of its strategy to build a consumer dairy business. Last year, Synlait announced plans to offload the Dairyworks business, but is yet to find a buyer.

Top image: ©Synlait

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