Chairman McGann points to challenges facing Aryzta and Paddy Power

The chairman of Irish-Swiss foods firm Aryzta has said he is unsure he would have taken on the job if he had realised the challenges facing the troubled business.

Gary McGann, who is also chairman of Paddy Power, said it would be a “multi-year turnaround” for Aryzta, which has lost around 84% of its stock market value in the past year.