The Board of Synlait Milk Limited (Synlait) announced that George Adams has been elected Chair and that Dr John Penno, the company?s Co-Founder and Board Appointed Director, has stepped down. George Adams elected as Synlait Chair George was appointed as an Independent Director of Synlait in March 2024 to fill a casual vacancy. George?s transition to the Chair role follows the previously signalled plan that Acting Chair Paul McGilvary would return to his position as an Independent Director once a permanent successor was found and elected.

George was elected with the full support of the Board. The Board thanks Paul for his service over the past six months and congratulates George on his new role. Dr John Penno, Board Appointed Director, will step down from his role.

George will formally stand for election as an Independent Director by Synlait shareholders at the company?s Annual Meeting in December 2024. George?s appointment as Chair is effective 1 May 2024. John co-founded Synlait and was Managing Director and CEO for 12 years.

In 2018, John became a Board Appointed Director, during which time he was temporarily appointed Acting CEO and then Chair. John?s resignation is effective 1 May 2024. George has outstanding commercial and governance experience with over 30 years of international business experience in the fast-moving consumer goods and telecommunications industries and an occupational health and safety background.

Before focussing on governance, George held a range of executive leadership positions. Notably he was, Managing Director of Coca-Cola Amatil New Zealand and CFO of British Telecom Northern Ireland. George's governance highlights include being Chair of Bell Tea & Coffee, Chair of the New Zealand Food and Grocery Council and a Director of Hellers Group and Tegel Food.

George is Chair of NZX-listed Bremworth Limited, Director of NZX-listed Arborgen, and Chair of the Business Leaders Health & Safety Forum.