Aryzta backs re-election of chairman appointed in boardroom coup last year

Swiss-Irish food group Aryzta is backing the re-election of chairman Urs Jordi at its annual general meeting in November.

Mr Jordi was appointed as chairman in a boardroom coup last year that ultimately resulted in the exits of its Irish directors. He subsequently took on the role of interim chief executive after the departure of Kevin Toland in November 2020.

Aryzta said it would also propose the re-election of Alejandro Legarda Zaragüeta, Gordon Hardie, Heiner Kamps, Jörg Riboni and Hélène Weber-Dubi as members of the board.

Mr Legarda Zaragüeta is one of the only members who had served on the board before the September coup. His retention was backed by UK investment firm Lodbrok Capital, along with the appointment of Mr Hardie and Mr Riboni.

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Luisa Delgado, who has been the senior independent director since the departure of the Irish directors, is not standing for re-election, Aryzta said.

Aryzta, which owns the Cuisine de France label in Ireland and supplies the likes of McDonald's, Subway and Lidl, has been trying to turn around the troubled business, selling off unwanted assets and streamlining the group.