Aryzta announce new European CEO as Dermot Murphy steps down
The chief executive at the European arm of embattled food company Aryzta is to step down.
Dermot Murphy, who has worked with the company for 20 years, will finish up at Aryzta at the end of August.
In a statement to the stock market the Swiss-Irish baked goods firm confirmed that Mr Murphy would be replaced by Gregory Sklikas, who is due to join the company at the end of May.
Commenting on his time at Aryzta, Mr Murphy said he had had "wonderful experiences."
"I wish Kevin [Toland], his new management team, and everybody in Aryzta much success for the future."
Meanwhile Aryzta has described Mr Sklikas as a "seasoned international business leader."
In his most recent role, Mr Sklikas served as chief operations officer (Europe, the Middle East and Africa), at Dutch dairy co-operative FrieslandCampina, where he had profit and loss responsibilities for sales of €4bn and 10,000 employees.
He also spent 14 years with consumer goods giant Unilever.
Kevin Toland, chief executive of Aryzta, thanked Mr Murphy for his "great leadership and support during a period of significant change and transition for the group."
"I would like to express my sincere thanks and appreciation to Dermot for his invaluable contribution to Aryzta throughout his 20 years’ service, and to wish him well in his future endeavours," Mr Toland said.
Reporting interim results last month, Aryzta said its earnings before interest, tax, depreciation and amortisation (ebitda), slumped almost 30pc to €161.3m in the first half of its financial year. Its revenue fell 6.3pc to €1.79bn.
Mr Toland, who started as CEO last September, and the group's board, have been trying to hammer Aryzta back into shape after an especially tortuous time in the US.
The group is set to go to trial next year in the US in a case taken by the US-based McKee Food.