Synlait CEO resignation

Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · www.synlait.com







NZX: SML
ASX: SM1


14 May 2026

Synlait CEO resignation

Synlait Milk Limited (Synlait) advises that it has accepted Richard Wyeth’s resignation from his role as Chief
Executive Officer.

Since his appointment, Richard has made a strong contribution to the business, leading Synlait through a
particularly challenging period with a clear focus on addressing key operational, quality and financial issues,
rebuilding customer relationships, and positioning the company for its next phase. The Board thanks Richard
for his leadership, commitment, and contribution to the business and wishes him well for the future.

Richard will remain with the company until 30 June 2026 to support an orderly transition and handover.

Leon Fung has been appointed Acting CEO effective Thursday 14 May 2026. He is ordinarily resident in New
Zealand.

Leon’s career spans nearly 30 years across production, operations, CAPEX investments, and market
development. He has held senior executive leadership roles, including CEO of NIG Nutritionals Limited, and
Operations Director for Danone Oceania.

Since joining Synlait as a Director in June 2024 and serving as Chair of its People, Environment and
Governance Committee from November 2025, Leon has developed a strong understanding of the
company’s operations and challenges, which positions him well to lead the business forward.

For more information contact
Investors
Hannah Lynch
Head of Milk Supply, Strategy & Corporate Affairs
E: hannah.lynch@synlait.com
P: +64 21 252 8990
Media
Jo Scott
Corporate Affairs Manager
E: jo.scott@synlait.com
P: +64 21 883 123