(Corrects designation in headline to interim CFO instead of
March 13 Swiss bakery goods maker Aryzta
said it had appointed David Wilkinson as interim chief
financial officer with immediate effect, accelerating its
management transition as the company struggles with its strategy
in the North American market.
Aryzta reported an expected 22 percent drop in diluted
earnings per share for the first half of the year, hurt by a
decline in revenue in North America, where sales of its Otis
Spunkmeyer cookies fell short of expectations.
Half-year earnings before interest, taxes and amortization
(EBITA) declined 31 percent to 159 million euros ($170.16
The company, which supplies baked goods to stores and
fast-food restaurants worldwide, said its top executives,
including Chief Executive Owen Killian, Chief Financial Officer
Patrick McEniff and Aryzta Americas head John Yamin, would leave
at the end of March, and not at the end of the fiscal year in
July as announced earlier.
"In these circumstances, the Board is not in a position to
provide guidance," the frozen-dough maker said.
($1 = 0.9344 euros)
(Reporting by Sylwia Lasek; Editing by Sunil Nair)