Tuesday October 20, 2020

The board has changed at Aryzta but its problems remain the same

The troubled food company has a new chairman and directors, but its woes are far from over

Ian Guider

Markets Editor

@ianguider
20th September, 2020
Gary McGann, the outgoing chairman of Aryzta, and Kevin Toland, who was voted off the board but keeps his role as chief executive. Photo: Fergal Phillips

There was little doubt at the end of the extraordinary general meeting of Aryzta, the under-pressure Irish-Swiss food company, that the centre of power had shifted.

The newly-elected directors and chairman of the company, voted onto the board by a group of dissident shareholders, were at the conference venue in Dubendorf in Switzerland. Meanwhile, Gary McGann, the outgoing chairman, and other Irish directors who had resigned ahead of being potentially voted off, appeared on video...

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