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- Release Date: 04/07/13 10:41
- Summary: DIRECTOR: SML: Sam Knowles joins Board of Synlait Milk
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SML
04/07/2013 08:41
DIRECTOR
REL: 0841 HRS Synlait Milk Limited (NS)
DIRECTOR: SML: Sam Knowles joins Board of Synlait Milk
Former Kiwibank Chief Executive Sam Knowles has been appointed a Director of
Synlait Milk Limited and will become an Independent Director on the planned
listing of the Company later this month.
Mr Knowles completes the requirement of the Company's constitution for there
to be three Independent Directors on the Board upon listing.
Welcoming the appointment, Synlait Milk Chairman Graeme Milne says Mr Knowles
experience in establishing and growing Kiwibank into a significant New
Zealand-owned and operated bank will be valuable to the Company as it
implements growth initiatives expected to cost around $183 million.
"Sam's knowledge of the processes and capability building required to
complete a successful growth programme will be particularly beneficial for
the Board, senior management and the company's future."
Since leaving Kiwibank after 10 years as founding Chief Executive Officer, Mr
Knowles has become Chairman of NZX listed on-line accountancy services
provider Xero. He is also a Director of SLI Systems and TrustPower as well as
Chairman or Director of a number of unlisted technology companies. In
addition, Mr Knowles is a Director of Rangatira, a Wellington-based
investment company trading on the Unlisted platform and a number of
not-for-profit organisations.
Mr Knowles will join former Fletcher Building Ltd Chief Financial Officer
Bill Roest and Mr Milne, a former dairy industry executive who has guided the
Company's growth since it was founded in 2005, as the Independent Directors
on the Synlait Milk Board. Mr Roest chairs the Board's Audit and Risk
Committee. The Company's constitution provides that the Chairman and Audit
and Risk Committee Chairman must both be Independent Directors.
"We are now confident the Company has a strong Board to undertake the next
phase of its development," Mr Milne says.
"The experience and skills of the Independent Directors complement the
Directors nominated by the Company's cornerstone shareholder Bright Dairy who
are Bright's Vice-President and Head of Marketing and Public Relations Ke Li,
Chief Financial Officer Zongbo Dong, Director of Strategy and Research Sihang
Yang, and Ruth Richardson who will be the New Zealand resident Bright
appointed Director in accordance with the Company's constitution."
Synlait Milk Managing Director and co-founder John Penno completes the Board.
End CA:00238192 For:SML Type:DIRECTOR Time:2013-07-04 08:41:30
