The company says there will be no change to existing commercial arrangements or operations and Synlait will continue to invest for future growth. Alternative operational arrangements have been made until a replacement for Neil is found.
Synlait says Neil was one of the first employees appointed when the company was founded more than a decade ago and he’s made a key contribution to the business during a period of strong growth and development.
Synlait will announce its annual results on 12 September 2019. The company reported a 9.6 per cent decline in first half NPAT to $37.3 million, down on last year's $41.3 million.
Shares in Synlait (ASX:SM1) are trading 0.48 per cent lower at $9.39.