Synlait (ASX:SM1) CFO to step down next year

Company News

by Anna Napoli

Synlait (ASX:SM1) has today announced that CFO Nigel Greenwood will step down next year. Nigel has been Synlait’s CFO since April 2010.

During his tenure he has overseen Synlait’s initial capital raise in late 2010, then listing on the New Zealand (2013) and Australian stock exchanges (2016).

He will step down as CFO once a suitable successor has been identified and in place.

Synlait says it will provide a further update to the market on this process in due course.

Analysts at Goldman Sachs have recommended Synlait as a buy with a target price of $9.40.

Shares in Synlait (ASX:SM1) closed 0.36 per cent higher at $8.49 yesterday.