Arzyta’s executive board, led by its Governance and Nomination Committee and advised by recruitment firm Russell Reynolds Associates, conducted a rigorous process to recruit a CEO with the necessary expertise to lead the speciality bakery manufacturer.
The Swiss/Irish baked goods group has purportedly been through a “tumultuous” four months, marked by a sharp share price slide and disappointing results, followed by the exit of long-standing CEO Owen Killian, CFO Peter McEniff and head of American operations John Yamin.
On track to deliver
Arzyta’s board selected Toland (51) on the basis of his proven track record, which includes senior roles at Coca Cola Bottlers in Russia and alcoholic drinks conglomerate Grand Metropolitan, as well as CEO and president of Glanbia US and global nutritionals unit.
Gary McGann, Aryzta’s chairman, noted that Toland has demonstrated that he can deliver strategically, operationally and financially.
“He is a proven CEO of businesses undergoing significant transformation and brings extensive experience of the food sector,” said McGann.
Midas touch
During his tenure with DAA, Toland elevated Dublin airport into one of the fastest growing major airports in Europe, dealing with over 28 million travellers per annum.
He also led the growth of Glanbia USA & Global Nutritionals to achieve a revenue of over $1bn per annum, doubled its US cheese business to $1.8bn and increased the company’s US market share from 6% to 13%.