After a long search: Aryzta AG appoints new CEO

Zurich / CH. (aag) The Board of directors of Aryzta AG is pleased to announce the appointment of Michael Schai as Chief Executive Officer (CEO) of the Group effective January 01, 2025. Schai has a strong global track record in the food industry across Australia, Asia-Pacific and Europe. Urs Jordi will focus as of 2025 on his role as Board member and Chairman of Aryzta AG after his four-year tenure as interim CEO.

Commentary by Alejandro Legarda, Chairman of the Governance, Nominations and Sustainability Committee: «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 Schai will continue to drive performance for Aryzta.»

«The Board unanimously appointed Jordi as interim CEO of Aryzta in November, 2020. In his role as interim CEO, Urs Jordi confidently steered the Aryzta Group through a period of significantly financial risk and business uncertainty. He leaves his interim CEO role having installed stable experienced management, returned the Company to organic growth and significantly improved business performance. On behalf of the Board, I want to express my gratitude and appreciation for Jordi’s strong commitment, passion and dedication to the turnaround and success of the Aryzta Group and also to all the Aryzta employees who were committed to the success of the Company. In his role as interim CEO, he has made a huge contribution to the success of Aryzta. The Board is delighted that Jordi will remain Chairman and member of the Board.»

Group Chairman and interim CEO Urs Jordi: «It has been an honour to lead Aryzta since my appointment by the Board as interim CEO in November 2020 and to deliver on our promises to our shareholders and stakeholders. As I hand over the CEO role to Michael Schai, I am delighted to continue as Aryzta’s Chairman and member of the Board. 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. Today’s appointment combined with continued strong support and oversight by the Board will ensure stability and continued performance at Aryzta.»

The appointed CEO Michael Schai: «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. I am looking forward to taking the baton from Jordi and continuing the progress and further improving shareholder value.»

About the incoming CEO: Michael Schai is a seasoned senior executive with more than 25 years of leadership experience at global organisations including Mars, Aryzta, and Lindt + Sprüngli in the consumer goods and baked goods sectors. At Hiestand respective Aryzta Schai has held a variety of roles across the Group in Switzerland and Asia-Pacific and was responsible for the Global Bun Bakeries Business in his last position. His roles have spanned marketing, sales, strategic development, and operational leadership across Australia, Asia-Pacific and Europe. He is currently the CEO of Lindt + Sprüngli, Australia. Schai will be relocating to Switzerland for his new role. Born 1970, Michael Schai has Swiss and Australian citizenship. He holds a degree as Lic. oec HSG in Business Administration, University of St. Gallen.