Leon Fung confirmed as Synlait CEO
Canterbury milk processor, Synlait Milk has confirmed Leon Fung as its chief executive officer.
Over the past year alone, the share price has lost 82% of its value, leaving the troubled company with a market capitalisation of only $65m.
There are only two options for Synlait. Either it has to sell assets or it has to raise more share capital.
But no one wants to buy its $400m under-utilised Pokeno plant and not too many shareholders are keen for a capital raise either. Something has to give.
