Synlait Milk COO Paul Mallard resigns
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The news: New Zealand dairy producer Synlait Milk has announced the resignation of chief operating officer Paul Mallard.
The context: Synlait, which is now commencing its search for a new COO, said Mallard will leave in December, having joined the company in 2023.
His resignation comes just over a month into Richard Wyeth's tenure as the group's new chief executive, after former boss Grant Watson stepped down in October.
ASX- and NZX-listed Synlait suffered heavy impairments last year, after securing shareholder backing for a recapitalisation plan under which it issued new shares to its top two shareholders — China’s Bright Dairy and A2 Milk.
What they said: “Paul has led multiple business functions and played a significant role in advancing the company's operational and strategic priorities,” said CEO Richard Wyeth.
“Under his leadership, the team has made notable progress optimising the North Island network and enhancing the overall value chain performance.”
The source: ASX
