Synlait Milk has announced that independent director Paul Washer will step down from his position at the company’s upcoming annual meeting. Washer has chosen not to stand for re-election. Synlait is a New Zealand-based company that specialises in processing milk and manufacturing dairy products. The company works with farmers to produce milk and ingredients, exporting them around the world.
Washer joined the Synlait board in 2022 and has served as the chair of the audit and risk committee during his tenure. The company has described this period as both ‘defining and difficult’. His departure comes as Synlait navigates challenging market conditions and strategic realignments.
The company’s nominations sub-committee has commenced the search for a new independent director to fill the vacancy. Synlait will be looking for someone who can support the business as it navigates the current market and economic conditions. Further announcements will be made in due course.
