Aryzta CEO Michael Schai steps down [Yahoo! Finance]
ARYZTA AG UNSP/ADR (ARZTY)
NASDAQ:AMEX Investor Relations:
aryzta.com/investor-centre/results-and-reports
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Source: Yahoo! Finance
Schai was only appointed as chief executive on 1 January to succeed the then interim CEO Urs Jordi, who will again now step into the role on a temporary basis, according to a statement today (8 October). Publicly listed Aryzta said its board and Schai had together “concluded that a leadership change is in the best interests of the company and all stakeholders at this time”. Jordi becomes acting CEO with immediate effect to "ensure strong leadership and delivery of the company strategy" but will continue in his position of chairman. Heiner Kamps, Aryzta's lead independent director, said: "Today's decision is a clear and united signal from the board in the best interest of shareholders and the company performance. "We have a tested leadership in place to focus on creating shareholder value by delivering performance in line with our mid-term plan.” Aryzta reported a 16% decline in first-half net profit in August to €49.1m ($57.1m). Elsewhere, revenue increased 3% to €1.08bn,
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