Arytza is the owner of Cuisine de France and other bakery brands
The four former executives have claimed specific performance of entitlements in accordance with the termination agreements they entered into in 2020. Photograph: Nick BradshawAryzta, the owner of the Cuisine de France and other bakery brands, has asked the High Court to strike out challenges by four former executives to the way the company arrived at the decision that they were not entitled to performance related shares.
The former CEO of the Irish company, Kevin Toland, former chief executive for Europe, Gregory Sklikas, chief people officer Anthony Murphy, and one-time chief commercial officer of Aryzta North America, John Heffernan, oppose the application and say the cases should be dealt with in Ireland.Rise of ‘The Family’: the group that became Ireland’s biggest crime gang without firing a shotHer ‘no’ was clear. She did not want to go home with him. Still he went on.
This “vesting” is determined by a remuneration committee of the board of the parent company in accordance with certain rules and based on the economic performance of the company during the tenure of executives. Mr McCullough said Aryzta was the first to bring proceedings over the matter, in Switzerland, after the company received a letter in January 2024 from Mr Toland’s lawyers challenging the board’s vesting decision.
Aryzta also claims the case has nothing to do with their employment contracts or termination agreements because it relates entirely to the rules governing the incentive scheme and the exercise of the powers of the Swiss parent board.
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