Dairy Farmers of Britain chairman Rob Knight has resigned.

Mr Knight, who had been chairman of the farmer-owned company since 2003, announced he was standing down with immediate effect on Friday (14 November).

“Dairy Farmers of Britain has made huge progress in the past five years, transforming from a small milk broker into a major dairy processor,” he said.

“But the dairy industry is constantly changing and DFB must also adapt if it is to prosper in the future.

“As the business moves into a new phase in its development it is, therefore, an appropriate time for me to hand over the reins.”

Farmer director Lord Grantchester, who has been named interim chairman, said the trading environment presented challenges for all dairy businesses.

“Our team is working hard to ensure that Dairy Farmers of Britain adapts to this in a way that will deliver for our members for the long term.

“I look forward to working closely with the rest of the board, the executive and the member council to ensure that this happens.”