#TGD: Bill Roest appointed to Synlait Milk board

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Soon-to-list dairy processor Synlait Milk has appointed the former chief financial officer of Fletcher Building to its board.
Bill Roest, of Auckland, retired from New Zealand’s largest building company in April after a long career, the last 12 years spent as Fletcher’s CFO.
Today, Synlait announced it had appointed him as a non-executive director, a day after unveiling its plans to go public on the NZX. According to the Companies Office, he was appointed last week.
First NZ Capital and Goldman Sachs have been appointed to manage the IPO, with the offer price to be set through a bookbuild. The company has applied to list with the NZX, and all going well it is understood the listing will happen in late July or early August.
Synlait has not said how much it wants to raise.
Synlait chairman Graeme Milne said Roest brought a «wealth of experience» to the board.
«Bill’s governance skills and deep understanding of international business will add further depth to the board of Synlait Milk as the company pursues its vision to be a trusted supplier of choice to some of the world’s best milk-based health and nutrition companies.»
Roest is a director of Fisher and Paykel Appliances, and on the board of the not-for-profit New Zealand Housing Foundation, which helps low-income families buy their first house.
He is also a member of the Institute of Directors, a fellow of the British Association of Chartered Certified Accountants and a member of the Kiwi Association of Chartered Accountants.
Also on the board of Synlait Milk are Li Ke, Yang Sihang, Dazheng Zheng and Don Zonbro, all of Shanghai, and former finance minister Ruth Richardson, of Christchurch.
Dunsandel-based Synlait is 51-per cent owned by Bright Dairy, of China. The rest is owned by Synlait Ltd, the original company behind the venture, mostly owned by founders Juliet Maclean, Ben Dingle and John Penno, as well as Japanese conglomerate Mitsui & Co.
 
Source: Stuff

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