SML - Resignation of Synlait Chair

Tuesday 24th October 2023

The Synlait Milk Limited (Synlait) Board advises that Simon Robertson has resigned as Chair and Independent Director of the company.

Synlait’s Nominations Sub-Committee will immediately commence a search for an Independent Director to fill the vacancy. The Board expects the new Independent Director will be suitable to be appointed as Chair.

Independent Director Paul McGilvary has been elected Acting Chair until the position is permanently filled. Paul was elected with the full support of the Board.

Acting Chair Paul McGilvary commented: “On behalf of the Board, I would like to thank Simon for his contribution to Synlait. We wish Simon well with his future endeavours.”

Simon’s resignation is effective immediately.

The constitution requires Synlait to have three Independent Directors. Pending appointment of a new Independent Director, the constitution contemplates a situation where there may not be three Independent Directors in office. In those circumstances, the constitution requires that one Bright Director abstains from voting on all resolutions put to a vote at a meeting of the Board until a third Independent Director is appointed to fill the vacancy. The Board confirms that one Bright Director will abstain from voting on all resolutions with immediate effect until the vacancy is filled.

Committee membership update

Synlait has two standing Committees appointed by the Board. The Committee memberships have been updated as per the below.

The Audit and Risk Committee members are:

• Paul Washer (Independent Director) (Committee Chair)

• Paul McGilvary (Independent Director)

• Yi Zhu (Julia) (Bright Dairy Appointed Director)

The People, Environment and Governance Committee members are:

• Hon Ruth Richardson (Bright Dairy Appointed Director) (Committee Chair)

• Paul McGilvary (Independent Director)

• Paul Washer (Independent Director)

Paul McGilvary biography

Paul joined the Synlait Board in January 2022 and has extensive dairy sector experience. He is a Director of AsureQuality, BVAQ Australia and New Zealand Hops Limited. Paul previously held several executive roles as CEO of Tatua Co-operative Dairy Company Limited, CEO of HortResearch, and Managing Director Fonterra (Europe).

Announcement: Resignation of Synlait Chair

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