Aryzta AG has announced that Annette Flynn will resign from the Board of Directors with effect from the conclusion of today’s Extraordinary General Meeting (EGM).
In a statement the Cuisine de France owner said that the Board asked Flynn to remain as a Member of the Board recognising the importance of her role as audit committee chair, given the increased complexities of the financial year-end in light of the resignation of the CFO (effective end CY20); the recent appointment of new auditors at the 2019 AGM; and, the challenging financial circumstances arising as a consequence of COVID-19.
'While the Board continues to believe that Audit Committee continuity, in these circumstances, represents the best interests of Aryzta, Flynn has accepted the expected decision of shareholders,' the bakery firm added.
Concluding, Gary McGann, Aryzta AG Chair, said: "We appreciate Annette’s commitment to Aryzta and thank her for her contribution to the Board and for her highly effective stewardship of the Audit Committee."
Andreas G. Schmid Withdraws Candidacy
Today's announcement follows the news that Andreas G. Schmid has decided to withdraw his candidacy as Member and Chair of the Board of Directors of Aryzta AG.
As a result of this decision, his candidacy as a member of the Remuneration Committee becomes obsolete, the company said in a statement.
Andreas Schmid commented: “I had made myself available as a candidate for the chair of the board of directors of an independent company or a company with strong industrial interests."
"It has become clear after recent developments that this solution is no longer an option, therefore, I have decided to withdraw my candidacy for the Board of Directors of Aryzta,” he added.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.
