Synlait founder Penno to step down as CEO after 12 years, will remain a director

Tue, 28 Nov 2017

By Jonathan Underhill Nov. 29 (BusinessDesk) - Synlait Milk founder and chief executive John Penno is to step down after 12 years leading the Dunsandel-based milk processor, whose shares have almost tripled since listing in July 2013. Penno will step down in the next 12 months in what the company said would be an orderly transition. He will stay on during an international search for his successor. Penno, who has spent a total of 17 years with the company, said he was " looking forward to getting back to my entrepreneurial roots and wil...

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