Westland Milk Products wishes to advise that Zhiqiang Li is the company’s acting Chief Executive Officer, effective today, Friday, January 31.

This follows the resignation of former CEO, Richard Wyeth. Mr Li will continue his role as Executive Director Yili Group Australia and NZ.

Mr Li said Richard Wyeth joined the company four years ago at a time when Yili was investing heavily in Westland’s future and managed this path to growth while turning around the profitability of the company.

“Much has been achieved by the company during Richard’s management,’’ Mr Li said.  “Westland has enjoyed enormous success in important markets such as the US with Westgold Butter and our investment in production facilities for high-value ingredients places us in a strong position to continue this trend.’’

Mr Wyeth said:

“The last four years have been incredibly rewarding. The challenge when I came into the CEO role was to turn the business around and bring pride and profitability  to Westland. With the turnaround of the business largely complete it is a natural time for me to step aside and I wish Mr Li all the best in taking over the CEO role.

“Yili’s investment in doubling our consumer butter production has helped us access the important US market and now the new $80 million lactoferrin plant ensures Westland will continue to enjoy a bright future for many years to come.

“As a listed company, Yili has an undeniable track record in building sustainable profits while promoting a rigid commitment to quality and this can only enhance Westland’s advantages.

“I am confident Westland will continue to grow as one of the most innovative dairy companies in New Zealand.’’

Mr Li said the success of Westland shows how much value global consumers place on the quality of New Zealand-based dairy products brought about by the advantages of New Zealand’s climate, location and quality processing facilities.

“We are extremely grateful to our suppliers and staff for helping us build a reputation for unrivalled quality,’’ Mr Li said.

“Westland now has a track record as a strong performer in the New Zealand industry and with our lactoferrin plant vastly increasing our production capacity of this highly valued ingredient, our future is very bright indeed.

“We are committed to ensuring that our dairy processors play a strong role in the continued success of the New Zealand dairy industry by creating products of the highest calibre that contribute to the promotion of global good health.’’