Three former executives with Aryzta have joined its one-time chief executive Kevin Toland in launching legal cases against the Swiss-Irish baked goods group stemming from their exits in late 2020.
All four are suing for “specific performance”, according to court records, signalling they are seeking compensation for amounts they claim they contractually entitled to. Aryzta is best known in Ireland as the owner of the Cuisine de France brand. It supplies par-baked goods to customers ranging from McDonald’s and Subway to Lidl, Aldi and Dunnes Stores.
Mr Toland left the company with immediate effect on November 19th 2020, a month after a suitor for the group, hedge fund Elliott Management, which had been courted by the previous board, walked away. Mr Jordi had made it clear from the outset of his tenure that the company should not be sold at that stage, but restructured.
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