Saturday September 19, 2020

Activist investors take control of Aryzta board

Chief executive Kevin Toland to remain in his role as shareholders vote to reshuffle board amid takeover talks

Ian Guider

Markets Editor

@ianguider
16th September, 2020
Kevin Toland has been ejected from the board will remain as chief executive. Picture: Sam Boal/Photocall Ireland

Shareholders in Aryzta, the Irish-Swiss food company, have voted in favour of overhauling its board with the ejection of chief executive Kevin Toland and the appointment of a new chairman.

At a shareholders’ meeting in Switzerland today, Toland was voted off the company’s board of directors, with 62 per cent of investors backing the motion. Toland, who was hired to turnaround the company’s fortunes in 2017, will remain in his position as chief executive....

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