Aryzta CEO Michael Schai steps down

Leadership Change - Aryzta has announced the resignation of CEO Michael Schai, who was appointed on January 1, 2023, and Urs Jordi will serve as acting CEO again [1][2] - The board and Schai mutually agreed that a leadership change is in the best interests of the company and stakeholders [1] Financial Performance - Aryzta reported a 16% decline in first-half net profit to €49.1 million ($57.1 million) [2] - Revenue increased by 3% to €1.08 billion, with organic revenue rising by 2.8%, reversing a previous decline of 0.7% [3] - EBITDA slightly increased by 0.5% to €150.5 million [3] Future Guidance - Aryzta confirmed that its guidance for 2025 remains unchanged, expecting organic growth in the low-to-mid single-digit range [3] - Management anticipates full-year EBITDA of "at least" €300 million, compared to €320.9 million in 2024 [3] Market Reaction - Following the announcement of the CEO change, Aryzta's shares dropped by 12% to SFr54.85 ($68.55), marking a 14% decline for the year [4]