Synlait CEO Resignation Highlights Deeper Challenges Facing Dairy Processor
A revolving door of chief executives at milk processor Synlait is a warning sign, says Lincon University senior lecturer in agribusiness Nic Lees.
Synlait’s share price continues to fall and last week was trading around 81c. Compare this to two years ago when it was trading at $3.45/share.
One year ago, it was hovering around $3.56/share.
A run of poor financial results and a dispute with cornerstone shareholder and key customer a2 Milk Company have seen its market capitalisation drop 75% to around $177m.
Farmers who supply milk to Synlait will be watching nervously.
