Switzerland-based bakery products supplier Aryzta has announced the appointment of its new CEO, Michael Schai. Schai, who currently serves as CEO of Swiss chocolate major Lindt & Sprüngli’s Australian operation, will assume his new role at Aryzta on 1 January next year.
The company, a major supplier to fast-food giant McDonald’s, revealed that Schai’s appointment will see current interim CEO Urs Jordi stepping down from the role, though he will remain chairman of the company.
In a statement, Aryzta mentioned that the previous dual role of chairman and interim CEO held by Jordi was scheduled to end this year. Having served in both positions for almost four years, Jordi oversaw a successful turnaround process at the business.
Schai previously held a variety of executive roles at Aryzta, including global strategic business lead for McDonald’s and managing director of Aryzta Bakeries Asia Pacific. He departed the company in late 2018 to take on the role of CEO at Lindt & Sprüngli.
Commenting on Schai’s appointment, Alejandro Legarda, chair of Aryzta’s governance, nomination, and sustainability committee, stated, “The board’s thorough succession planning process has resulted in the appointment of an outstanding candidate in Michael Schai, who possesses strong leadership values, extensive knowledge of the food and bakery industry, and commercial expertise in international markets.”
Jordi also expressed his confidence in Schai, noting, “Mr Schai’s bakery experience, proven leadership skills, and extensive international commercial knowledge in the European, Australian, and Asian markets make him the ideal candidate to continue Aryzta’s success.”
Speaking about his return to Aryzta as CEO, Schai said, “I am delighted to lead the group and have been impressed by the resilience, commitment, and passion of Urs Jordi, the senior executive team, and the employees during a period of challenges.”
Schai’s career in the food industry spans over 25 years, with previous experience at US food giant Mars as an international products manager based in the UK.
Recent financial figures released by Aryzta showed Q1 2024 revenues of €514.0m ($560.7m), marking a 0.1% year-on-year increase. The company reiterated its guidance to achieve low- to mid-single digit organic growth for the 2024 financial year.