Synlait Milk Limited (ASX:SM1) has announced the resignation of CEO Grant Watson, who led the company through a challenging period of financial restructuring. His tenure saw Synlait reduce its debt through a $130 million shareholder loan and a $218 million equity raise. Synlait Chair George Adams praised Watson’s leadership, stating, “Grant has been instrumental in resetting our balance sheet and navigating difficult market conditions.”
Watson, who joined Synlait in January 2022, previously held key roles at Fonterra, including as Director of Global Foodservice and Managing Director of Tip Top. Before Synlait, he served as CEO of Miraka, where he developed extensive experience in the dairy industry.
With Dairyworks CEO Tim Carter stepping in as Acting CEO, Synlait now focuses on its next phase, aiming to drive profitability and expand in South East Asia.