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Aryzta Says Gary McCann To Step Down If No Deal Reached Prior To EGM

Aryzta has announced that its chairman, Gary McCann will step down following its forthcoming Extraordinary General Meeting of shareholders 2020 (EGM) unless a takeover deal is recommended to shareholders prior to the date of the meeting.

The Cuisine de France owner today published the invitation to its EGM of shareholders, which is due to be held on 16 September 2020 in Dübendorf, Switzerland.

Both Dan Flinter and Rolf Watter have also declared their resignations from the board, effective from the conclusion of the EGM, the company said.

In a statement, the Irish-Swiss food group said that the proposed timing 'is primarily intended to provide an opportunity to allow the strategic review process in which certain third parties have expressed an unsolicited interest in acquiring the company’s entire issued share capital.'

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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