Another senior executive leaves Aryzta

Company is being targeted for takeover by US hedge fund Elliott

Aryzta has been struggling to turn itself around after a disastrous acquisition spree in the wake of the financial crash.

Aryzta has been struggling to turn itself around after a disastrous acquisition spree in the wake of the financial crash.

 

Takeover target Aryzta has announced the departure of another senior executive from the company. Gregory Sklikas, chief executive Europe, will leave with immediate effect. His exit closely follows the departure last week of chief people officer Tony Murphy and chief commercial officer of Aryzta North America John Heffernan. The group’s chief executive Kevin Toland departed last month, with chairman Urs Jordi taking on that role on an interim basis.

Mr Jordi’s re-election as chairman was meanwhile this week opposed by shareholder advisory group ethos.

Aryzta is being targeted for takeover by US hedge fund Elliott. The Swiss-Irish food group has been struggling to turn itself around after a disastrous acquisition spree in the wake of the financial crash.