The Board of Directors of ARYZTA AG unanimously decided, together with Michael Schai, that he will step down from his position as CEO with immediate effect. Urs Jordi took over as interim CEO. He also continues his role as Chairman of ARYZTA AG.

“A leadership change is in the best interests of the Company and all stakeholders at this time. The Board of Directors thanks Michael for his service to the company,” ARYZTA announced. Schai was appointed CEO at the beginning of 2025.

ARYZTA’s lead independent director Heiner Kamps commented: “Today’s decision is a clear and united signal from the Board in the best interest of shareholders and the company performance. We have a tested leadership in place to focus on creating shareholder value by delivering performance in line with our mid-term plan.”

ARYZTA AG Chairman and Interim CEO Urs Jordi commented: “The Board of ARYZTA is confident that these changes will ensure business performance is brought back on track. ARYZTA is implementing these changes from a strong financial position and in a timely manner to improve performance, generate cash and deliver on commitments to return capital to shareholders.”

ARYZTA confirms that organic growth guidance for 2025 remains unchanged (low to mid-single digit), regardless of the leadership change, and management expects that 2025 EBITDA will be at least EUR 300m on a like-for-like basis (2024: EUR 320.9m).

On October 20, ARYZTA will provide Q3 revenue data as scheduled.

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