Aryzta AG announced a leadership change, with Chief Executive Officer Michael Schai stepping down from his role effective immediately.
The company’s Board of Directors said the decision was made jointly with Schai and reflects what both parties believe to be in the best interests of the company and its stakeholders.
“The Board of Directors thanks Michael for his service to the company,” Aryzta said in a statement. Schai, who took the helm in 2022, had been leading the Swiss-based bakery group through an ongoing restructuring and growth phase aimed at streamlining operations and strengthening its position in the global convenience bakery market.
To ensure continuity in leadership and execution of strategy, Aryzta’s Chairman, Urs Jordi, has been appointed interim CEO with immediate effect. Jordi will retain his role as Chairman while overseeing day-to-day management of the company. Jordi previously served as CEO during Aryzta’s turnaround period before Schai’s appointment and was widely credited with stabilizing the business and improving profitability.
Despite the leadership transition, the company reaffirmed its financial outlook for 2025, maintaining its guidance for organic growth in the low- to mid-single-digit range. Aryzta also expects 2025 EBITDA to reach at least EUR300m on a like-for-like basis, compared with EUR320.9m in 2024. The company said its third-quarter revenue update will be released as scheduled on October 20.
Based in Schlieren, Switzerland, Aryzta is an international bakery company with operations across Europe, Asia, Australia, and New Zealand. It holds a leading position in the convenience bakery segment, supplying frozen and ready-to-bake goods to retail and foodservice customers worldwide.
Find out more at: https://www.aryzta.com/