DFB’s head man quits

MALCOLM SMITH has announced his surprise departure as chief executive of Dairy Farmers of Britain.

He left the co-operative on Monday (May 10), with the stated intention of focusing on other business interests.

Chairman Rob Knight will take over as acting chief exec, with heads of division reporting to him, until a successor is appointed in as much as six months time.

“For both myself and the business it is time to move on,” Mr Smith said.

“My greatest contribution was always going to be delivering that first major move that took DFB from milk broker to major processor.

“That first phase of DFB’s development is complete, the business is in great shape for the future, and I have some personal business interests to pursue.”

Under the leadership of Mr Smith, DFB has become the UK’s third largest milk processor, with 1.35bn litres passing through its factories and sales of £700m.

A spokeswoman for the co-op said he had been willing to stay on longer, but the Board felt he should leave immediately, to avoid getting involved in long-term business decisions he would not be able to conclude.

Mr Knight said: “I would like to thank Malcolm for his contribution to the development of DFB over the last two years and wish him well.”