Synlait Milk CEO, Grant Watson, has resigned. The CEO of Synlait business, Dairyworks, Tim Carter has been appointed acting CEO from today (21 October). Grant was CEO from January 2022 and has overseen the dairy company’s financial reset.
In what the company has called an “unprecedented era in its history”, Synlait chair, George Adams, said Watson’s achievements have been “extensive”.
Adams said, “Recent months have seen a long list of urgent challenges for Synlait, and Grant’s ably led the team through them.
“His achievements are extensive and notably include our balance sheet's recent, successful reset.”
Watson said he was honoured to have led the company.
“Synlait is an amazing and agile company. 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,” Watson said.
Adams said Watson’s tenure had been, “incredibly busy, notably resetting Synlait’s strategy to reduce our customer and market concentration risk, commercialising plant-based production at Pokeno and our Foodservice business in Canterbury, extending our reach into South East Asia, maintaining our China market access, and building an outstanding executive team.”
Tim Carter has been CEO of Dairyworks for six years.
“Under Tim's leadership, Dairyworks has performed impressively over the past six years, recently delivering a record EBITDA result due to strong sales growth, operational stability, and low staff turnover,” Adams said.
Dairyworks’ CFO, Aaron Kenny, will be acting CEO.
Adams said Watson is taking a well-deserved break” before deciding his next career move.
