ARYZTA AG announced that Swiss activist group Veraison, with the support of Spanish activist investor Cobas, has nominated a new chairman to succeed Gary McGann, whom they originally wanted to oust at the EGM. However, Mr. McGann would step down from the role this month. Aryzta wants to appoint Andreas Schmid as chairman, while rebels have nominated Urs Jordi. Mr. Jordi is the former boss of Hiestand International, the company that was originally acquired by Irish group IAWS to create Aryzta. However, Ethos and proxy advisory firm ISS have lent their support to Aryzta's nominee for chairman. But Ethos has also backed the appointment of Mr. Jordi and another activist nomination to the baked goods firm's board. ISS has also said the activists have made a strong case for board changes at Aryzta. Ex-Enterprise Ireland boss Dan Flinter will also step down as a non-executive director of Aryzta following this month's EGM, as will Rolf Watter.
Aryzta AG is a Switzerland-based company engaged in food business. It is primarily focused on specialty baking. The Companyâs products include Artisan Breads, Sweet Baked Goods and Morning Goods, as well as an array of other Savoury Items, Such As Pizza, Tarts and Pies. It operates through four segments, including Food Europe, Food North America, Food Rest of World and Origin. Food Europe segment includes the specialty bakery market in Switzerland, Germany, the United Kingdom, Ireland, France, Spain, Sweden, Poland and Denmark. Food North America segment includes the specialty bakery market in the United States and Canada. Food Rest of World segment consists of businesses in Australia, Asia, New Zealand and South America. Origin segment is a agri-services group focused on integrated agronomy and agri-inputs in the United Kingdom, Ireland, Poland and Ukraine. The Companyâs customer channels consist of a mix of retail, convenience and independent retail, Quick Serve Restaurants.
ARYZTA AG 
