Synlait Loses Third CEO in Five Years as Richard Wyeth Resigns
Troubled milk processor Synlait has lost its third chief executive in five years.
After announcing a turnaround in its financial performance, the listed company recorded a 50% rise in its share price - from 40c to 60c.
However, it's worth noting that one year ago, Synlait's share price was around 80c and two years ago around $3.50/share.
So, the jury is still out on whether Synlait can regain the confidence of investors and of its farmer suppliers, most of whom had earlier indicated their desire to withdraw supply in two years.
