Aryzta names Keith Cooper as interim chief of US arm

Chief operating officer of US business Ronan Minahan to step down, group announces

The Aryzta group has issued a series of profit alerts and disappointing earnings in the past two years, due in part to the poor performance of its US arm.

The Aryzta group has issued a series of profit alerts and disappointing earnings in the past two years, due in part to the poor performance of its US arm.

 

Troubled Swiss-Irish food group Aryzta has named Keith Cooper as its interim chief executive for its American business.

Mr Cooper, a senior managing director at FTI Consulting, has been advising the company’s US management since March.

The company also said Ronan Minahan, chief operating officer (COO) for the US business, is to leave the company to pursue other interests.

Mr Minahan was appointed to the executive board earlier this year after John Yamin, Aryzta’s then head of the company’s US arm, tendered his resignation along with group chief executive Owen Killian and chief financial officer Patrick McEniff.

Aryzta said Mr Minahan, who has been with the group for 10 years, would continue to be available to support Mr Cooper and his management team.

Shares in Aryzta have fallen by about 30 per cent this year, making it one of the worst-performing stocks on the Iseq 20 index.

The group has issued a series of profit alerts and disappointing earnings in the past two years, due in part to the poor performance of its US arm.

Kevin Toland, the chief executive of DAA (formerly Dublin Airport Authority) was last month appointed as head of Aryzta.