Synlait Milk Limited has advised that it has accepted Richard Wyeth’s resignation from his role as Chief Executive Officer.
Since his appointment, Wyeth has made a strong contribution to the business, leading Synlait through a particularly challenging period with a clear focus on addressing key operational, quality and financial issues, rebuilding customer relationships, and positioning the company for its next phase.
The Board thanked him for his leadership, commitment, and contribution to the business and wishes him well for the future.
He will remain with the company until the 30th of June 2026 to support an orderly transition and handover.
Richard Wyeth
Leon Fung has been appointed Acting CEO effective Thursday, the 14th of May 2026. He is ordinarily resident in New Zealand.
Fung’s career spans nearly 30 years across production, operations, CAPEX investments, and market development. He has held senior executive leadership roles, including as CEO of NIG Nutritionals Limited and as Operations Director for Danone Oceania.
Since joining Synlait as a Director in June 2024 and serving as Chair of its People, Environment and Governance Committee from November 2025, Fung has developed a strong understanding of the company’s operations and challenges, which positions him well to lead the business forward.
Synlait also advised that Independent Director Paul McGilvary has provided notice of his resignation from the Board. He has served as a Director of Synlait since 2022 and has made a substantial contribution to the company during a particularly challenging and important period in its history.
During his tenure, McGilvary held several key leadership roles, including Chair of the People, Environment and Governance Committee, Acting Chair of the Board and Chair of the Dairyworks advisory Board.
Paul McGilvary
Under Synlait’s Constitution and the NZX Listing Rules, the company is required to have two Independent Directors. Synlait’s Nominations Sub‑Committee commenced a search for a new Independent Director earlier this year and will provide a further update prior to Paul’s resignation becoming effective.
McGilvary’s resignation is effective from Monday, the 18th of May 2026.
Last month, Chief Quality Officer Hila Mory had also resigned. Her last day will be the 31st of July 2026.
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