The shareholder group represented by Veraison has increased its stake in Swiss-Irish food group Aryzta to over 20pc. The group are trying to oust chairman Gary McGann and have previously said that it wants to remove Mr Toland from the Aryzta board so he can concentrate on his CEO role. He's the former boss of Swiss baker Hiestand International -the company that was originally acquired by Irish group IAWS to create Aryzta. Last month Aryzta said organic revenue was heading for a 23pc decline for the month to date in June, compared to a 36pc fall in May and 49pc in April. Aryzta said the figure is stable compared to three months ago.

Source: Irish Independent July 02, 2020 07:30 UTC