New Zealand's Synlait appoints insider Leon Fung as CEO

By Reuters News

Oct 21 (Reuters) - New Zealand's Synlait Milk SML.NZ appointed insider Leon Fung on Wednesday as its permanent chief executive officer, five months after he was named acting CEO following Richard Wyeth's resignation. Here are some more details:

  • Fung was appointed acting CEO in May after Wyeth stepped down, marking the second CEO departure in less than two years

  • He joined Synlait's board in June 2024 as a non-independent director, and has nearly 30 years of experience in the dairy and nutrition industries

  • Before joining Synlait, Fung held senior roles at Danone, Tetra Pak and Yashili New Zealand

  • During his time as acting chief executive, Fung helped oversee the dairy company's recovery efforts and operational performance, the company said

  • The appointment comes as Synlait continues to rebuild its business after a period of financial strain and management changes

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