Important Management Changes for Aryzta

Aryzta executive management members resigned. Owen Killian, CEO; Patrick McEniff, CFO/COO; and John Yamin, CEO Americas, all members of Aryzta executive management, have tendered their resignations and intend to step down at the end of the current financial year. 

After the announcement was made, Aryzta shares closed 11.3% higher in Dublin trade, according to the Irish media.

Aryzta’s board will engage a leading international recruitment firm to identify the highest caliber candidates for these roles.

To support an orderly transition, the board has appointed three new members to Aryzta executive management with immediate effect. The new appointments are Dermot Murphy, COO Europe; Ronan Minahan COO Americas and Robert O’Boyle, COO APMEA.

The financial results of the group showed a lower revenue of EUR3,879m in 2016 compared with 2015 – EUR3,810m. Aryzta’s total net profit was also lower in 2016, at EUR311m compared to 2015’s (EUR359m).