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Synlait Milk Ltd. ( (NZ:SML) ) has provided an announcement.
Synlait Milk Limited has announced the resignation of Chief Executive Officer Richard Wyeth, who will remain with the company until 30 June 2026 to ensure an orderly transition. The board credited Wyeth with steering Synlait through a difficult period by addressing operational, quality and financial issues, rebuilding customer relationships, and positioning the business for its next phase.
Director Leon Fung has been appointed Acting CEO effective 14 May 2026, bringing nearly three decades of experience in production, operations, capital investment and market development. His prior executive roles in the nutrition sector and his recent governance responsibilities at Synlait are expected to support continuity of strategy and leadership as the company navigates its ongoing operational and market challenges.
The most recent analyst rating on (NZ:SML) stock is a Hold with a N$0.72 price target. To see the full list of analyst forecasts on Synlait Milk Ltd. stock, see the NZ:SML Stock Forecast page.
More about Synlait Milk Ltd.
Synlait Milk Limited is a New Zealand-based dairy processor listed on the NZX and ASX, focusing on value-added milk and nutrition products. The company supplies dairy ingredients and formulated nutritional products, positioning itself as a key player in high-value dairy and nutrition markets.
Average Trading Volume: 103,917
Technical Sentiment Signal: Strong Sell
Current Market Cap: N$283.5M
Learn more about SML stock on TipRanks’ Stock Analysis page.