Bakery giant Aryzta has proposed the election of Cornelia Gehrig as a member of its board of directors at the Annual General Meeting (AGM) in April 2024.
Aryzta's board will also propose Gehrig for election to the remuneration committee.
The company added that all existing board members will go forward for re-election at the AGM.
The bakery firm will propose Urs Jordi for re-election as chairperson and member of the board of directors.
Other candidates seeking re-election to the board include Heiner Kamps, Hélène Weber-Dubi and Alejandro Legarda Zaragüeta.
Cornelia Gehrig
Gehrig is an accomplished professional with experience as an independent board member.
She has a proven track record as group CFO in international companies and several years of practice as a certified public accountant.
She has more than 20 years of group finance and controlling experience at the management level, with expertise in transformation, M&A activities, turnaround, and business excellence projects as well as in developing and implementing growth strategies.
Annual Performance
Recently, Aryzta reported a 14.4% increase in revenue in its 2023 financial year, to €2.19 billion, while EBITDA rose by close to a third (+32.3%) to €304.5 million.
Commenting on the group's performance, chairman and interim chief executive Urs Jordi said that the business "outperformed strongly in 2023 across all metrics", citing innovation as a key driver of top-line growth.
EBITDA margin for the group stood at 13.9% in 2023, while profit for the period increased to €125.7 million and free cash flow to €132.4 million.
In December of last year, the company announced an investment of around €40 million in the construction and commissioning of a new bakery in Perth in Western Australia.
