Arytza AG has announced that Frederic Pflanz has notified the board that he will step down as group chief financial officer (CFO) in December.
In a statement, the Cuisine de France owner said that Pflanz has accepted a role in an unrelated business.
“We are naturally disappointed to see Frederic [Pflanz] leave and we recognise his substantial positive impact on Aryzta generally and to the finance function specifically," said Kevin Toland, group chief executive officer.
"Both as CFO and as a valued colleague, Frederic has contributed significantly to the overall business," he added.
A search process for the position of group CFO will be initiated, the company said.
The notice period provides for continuity and orderly succession arrangements, it added.
“I remain fully committed to delivering the maximum value I can to Aryzta in my remaining time in the role as businesses all over the world, including Aryzta, operate in a very challenging environment and we continue to focus on controlling cost and maintaining a strong liquidity position," Pflanz concluded.
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