Synlait Milk (ASX:SM1) CEO resigns

The board of Synlait Milk (ASX:SM1) has accepted the resignation of CEO Leon Clement.

Mr Clement started in September 2018 with the company and will remain till the end of April. From 1 May, Synlait Co-Founder, Former CEO and current Director John Penno will step in as the interim CEO. Recruitment will commence shortly.

Synlait Chair Graeme Milne commented: “Leon has been an authentic and transformational leader. He has successfully repositioned Synlait’s purpose, ambition, and strategy to make us a more diversified and sustainable company. On behalf of the Board and all staff we wish Leon the very best in his future career and thank him for his energy and dedication to Synlait during his time with us.”

Synlait CEO Leon Clement commented: “It has been a privilege to lead Synlait. It has been an intensive period of change and growth and I am proud of our achievements. Synlait has an amazing team that is making a positive and sustainable impact in the areas we operate.”

Shares in Synlait Milk (ASX:SM1) closed 2.42 per cent lower at $3.22 on Friday.
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