{"id":68108,"date":"2025-10-08T22:18:13","date_gmt":"2025-10-08T22:18:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/68108\/"},"modified":"2025-10-08T22:18:13","modified_gmt":"2025-10-08T22:18:13","slug":"aryzta-ceo-leaves-with-immediate-effect-as-food-group-seeks-to-get-back-on-track-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/68108\/","title":{"rendered":"Aryzta CEO leaves with immediate effect as food group seeks to get \u2018back on track\u2019 \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall b-it-article-body__text--left\">The chief executive of <a href=\"https:\/\/www.irishtimes.com\/business\/2025\/05\/07\/aryzta-targets-up-to-60m-in-cost-cuts-to-boost-margins-over-three-years\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/business\/2025\/05\/07\/aryzta-targets-up-to-60m-in-cost-cuts-to-boost-margins-over-three-years\/\">Aryzta<\/a>, the Swiss-Irish maker of par-baked pastries and breads, has stepped down with immediate effect, the company announced on Wednesday morning. <\/p>\n<p class=\"c-paragraph paywall b-it-article-body__text--left\">In a statement, the board said it had \u201cunanimously decided together with Michael Schai that he will step down from his position as CEO with immediate effect\u201d.<\/p>\n<p class=\"c-paragraph paywall \">Its shares fell by more than 6 per cent on the Swiss stock market following the news. <\/p>\n<p class=\"c-paragraph paywall \">\u201cBoth the board and Michael have concluded that a leadership change is in the best interests of the company and all stakeholders at this time,\u201d the statement added. <\/p>\n<p class=\"c-paragraph paywall \">Urs Jordi has been appointed as interim chief executive to \u201censure strong leadership and delivery of the company strategy\u201d, the group said. <\/p>\n<p class=\"c-paragraph b-it-article-body__interstitial-link\">[\u00a0<a aria-label=\"Open related story\" class=\"c-link\" href=\"https:\/\/www.irishtimes.com\/business\/2025\/05\/07\/aryzta-targets-up-to-60m-in-cost-cuts-to-boost-margins-over-three-years\/\" rel=\"noreferrer nofollow noopener\" target=\"_blank\">Aryzta targets up to \u20ac60m in cost cuts to boost margins over three yearsOpens in new window<\/a>\u00a0]<\/p>\n<p class=\"c-paragraph paywall \">Mr Jordi previously served as chief executive of the food company and continues in his role as chairman.<\/p>\n<p class=\"c-paragraph paywall \">Mr Jordi said: \u201cThe board of Aryzta is confident that these changes will ensure business performance is brought back on track. <\/p>\n<p class=\"c-paragraph paywall \">\u201cAryzta is implementing these changes from a strong financial position and in a timely manner to improve performance, generate cash and deliver on commitments to return capital to shareholders.\u201d<\/p>\n<p class=\"c-paragraph paywall b-it-article-body__text--left\">Aryzta, which is behind the Cuisine de France brand in Ireland, confirmed that organic growth guidance for 2025 was unchanged (low to mid-single digit), and that it expects its Ebitda (earnings before interest, tax, depreciation and amortisation) will be at least \u20ac300 million on a like-for-like basis \u2013 it was \u20ac320.9 million last year.<\/p>\n<p class=\"c-paragraph paywall \">Aryzta said it would provide Q3 revenue data on October 20th. <\/p>\n<p class=\"c-paragraph paywall \">Commenting on the leadership change, Aryzta\u2019s lead independent director Heiner Kamps said: \u201cToday\u2019s decision is a clear and united signal from the board in the best interest of shareholders and the company performance.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The chief executive of Aryzta, the Swiss-Irish maker of par-baked pastries and breads, has stepped down with immediate&hellip;\n","protected":false},"author":2,"featured_media":68109,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[46080,72,61,60,46081],"class_list":["post-68108","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-aryzta","tag-business","tag-ie","tag-ireland","tag-urs-jordi"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/68108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=68108"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/68108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/68109"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=68108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=68108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=68108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}