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Aryzta AG: appoints Chief Financial Officer

Zurich / CH. (aag) Swiss Aryzta AG is pleased to announce the appointment of Frederic Pflanz as Chief Financial Officer (CFO). Frederic (49), a dual French-German national, joins Aryzta from Maxingvest Group, where he is an executive Board member.

Maxingvest AG is the parent company of Tchibo, a German coffee and consumer retail business; and Beiersdorf, a German skin- and personal-care consumer products business. In 2016 its consolidated sales were in excess of 10 billion EUR and its subsidiaries employ more than 21’000 people.

Prior to Maxingvest, from 2010 to 2014, Frederic held a number of roles in RemyCointreau Group including Group CFO, COO, heading the Group’s Global Operations and Director of External Development. Remy-Cointreau Group is a French Liqueurs + Spirits company listed on Euronext Paris with annual sales in excess of 1 billion EUR.

Between 1992 and 2010, Frederic held a number of senior positions at L’Oreal Group, the world’s largest cosmetics company, where he worked extensively across Continental Europe and Asia. Most recently he served as Chief Financial Officer of the Global Consumer Products Division, the largest division in the Group.

Frederic brings extensive expertise in global consumer products businesses as well as experience in organisation integration and business consolidation.

Process and Timeline

The Board of Aryzta, led by its Governance and Nomination Committee and advised by international recruitment firm, Russell Reynolds Associates Inc. conducted a rigorous, international process to select and recruit a candidate of Frederic’s calibre. He will join Aryzta in January 2018.

Gary McGann, Chairman of Aryzta commented: «I am delighted to announce the appointment of Frederic Pflanz as Chief Financial Officer. Frederic’s proven career in the global consumer products sector combined with his extensive finance experience will add significant expertise and capability to our management team. His appointment marks another important milestone for the Group as we build the senior executive team to stabilise the business and, in time, to deliver increased performance and growth».

He added «We would also like to acknowledge the major contribution David Wilkinson, interim CFO, has made over the past number of months. David will remain with the Group until early 2018 to ensure an orderly transition process».