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Switzerland-based bakery products supplier Aryzta has announced that its new CEO will be one of its former executives, Michael Schai.
The company, which counts fast-food giant McDonald’s as a major customer, said Schai - who is currently CEO of Swiss chocolate major Lindt & Sprüngli’s Australian operation - will start in his new role at Aryzta on 1 January next year.
His appointment means that current interim CEO Urs Jordi will step down from the role, although he will remain chairman of the company.
Aryzta said in March that the current dual role of chairman and interim CEO was scheduled to end this year. Jordi has filled both positions for nearly four years and overseen a turnaround process at the business.
In a previous four-year spell at Aryzta, Schai held a number of executive roles including global strategic business lead (McDonald’s) and managing director of Aryzta Bakeries Asia Pacific. He left the business in late 2018 to take the Lindt & Sprüngli CEO position.
Speaking today (15 July) about his becoming Aryzta’s new CEO, Alejandro Legarda, chair of the company’s governance, nomination and sustainability committee, said: “The board’s thorough succession planning process has resulted in the appointment of an outstanding candidate in Michael Schai.
“He has all the attributes that the board sought during the lengthy recruitment process , including strong leadership values, in-depth knowledge of the food and bakery industry and commercial expertise in international markets. With these skills, the board is confident that Mr Schai will continue to drive performance for Aryzta.”
Jordi added: “Mr Schai has the necessary bakery experience, proven leadership skills and extensive international commercial knowledge in the European, Australian and Asian markets, that we need to continue Aryzta’s success.”
Schai said: “I am delighted to return to Aryzta as CEO of the group. I have followed the success of the turnaround in a period of numerous challenges both internal and external.
“This is representative of the resilience, commitment and passion of Urs Jordi, the senior executive team, its board of directors and the management and employees.”
Schai’s career in the food industry stretches back more than 25 years. He previously worked for US food giant Mars as an international products manager based in the UK.
In April, Aryzta reported Q1, 2024, revenues of €514.0m ($560.7m), up 0.1% year-on-year. It reiterated its guidance to deliver low- to mid-single digit organic growth for the 2024 financial year.
"Aryzta names former executive Michael Schai as new CEO" was originally created and published by Just Food, a GlobalData owned brand.