Troubled baked goods group Aryzta has hired Kevin Toland from the Dublin Airport Authority (DAA) to be its new chief executive.

Shares in Cuisine de France owner Aryzta fell by over 4% yesterday after the company tempered speculation it was closing in on a sale of its controversial 49% stake in French high-end food retailer Picard.

Dublin-based paper and packaging group Smurfit Kappa has the ability to spend up to €1bn on acquisitions this year without harming its balance sheet or breaching its lending covenants, management has said.

Shares in Aryzta fell more than 7% at one stage yesterday before sharply paring losses, as the troubled Irish-Swiss baked goods company said it plans to accelerate its management shake-up.

Shares in Cuisine de France owner Aryzta jumped by almost 12% yesterday on the back of the troubled group launching a recovery bid which will see founder and chief executive Owen Killian leave the company and its investment strategy reviewed.

Cuisine de France owner Aryzta saw its share price dip yesterday despite it successfully launching its debt restructuring round at an attractive yield.

Aryzta chief executive Owen Killian has seen his near-€1m annual performance-related bonus ‘withheld’, pending improvement in the troubled food group’s yearly earnings.

Paddy Power-Betfair chairman Gary McGann yesterday defended the betting services group’s remuneration policy as “fair, transparent, and balanced” despite nearly a third of investors voting against it at the group’s first AGM as a merged entity.

Executive pay levels at Smurfit Kappa Group declined by nearly 39% last year, amid a shake-up of the group’s management.

Paddy Power’s management has said it will not decide on the level of redundancies stemming from its near €7bn merger with UK rival Betfair until completion of the deal in the first quarter of 2016.

A senior economist who attended the infamous Brian Cowen-Anglo golf outing and was the only expert the then taoiseach called on the night of the guarantee has insisted he had no role in decisions about the firm.

Former Anglo Irish directors have contradicted bank inquiry evidence given by Taoiseach Enda Kenny and his predecessor, Brian Cowen, about two key events in the lead-up to the economic crash.

Paddy Power shareholders are in line for a fresh €80m windfall, via a special dividend payout, if the leading Irish betting services firm succeeds in its planned merger with UK-based online rival, Betfair.

Former Anglo director Fintan Drury revealed some of his friends find it "lacking in credibility" the bank’s situation was not discussed with then taoiseach Brian Cowen at a golf outing.

Paper and packaging giant, Smurfit Kappa has announced a 30% increase in its first half dividend for shareholders to 20c per share; bringing the full-year 2015 payment to 60c per share.

After a make or break fortnight which saw ousted ex-taoiseach Brian Cowen take centre stage, the banking inquiry has still to find any smoking gun for what caused the 2008 crash.

Brian Cowen called a senior economist who took part in a golf excursion with him and Anglo Irish directors for advice on the night of the bank guarantee – the only external expert who was asked for their opinion.

Paddy Power is unlikely to follow up its latest cash bonanza for shareholders, with another bumper pay-out in the foreseeable future.

Packaging group Smurfit Kappa has appointed Tony Smurfit as chief executive-designate to take over in August when Gary McGann retires after 13 years as CEO.

Smurfit Kappa Group (SKG) cut its executive pay levels by nearly 3% last year, with chief executive Gary McGann seeing a near 7% reduction.

Paper and packaging giant Smurfit Kappa Group will return surplus cash to shareholders this year if it fails to land any target acquisitions.

Packaging group Smurfit Kappa achieved a 79% increase in profits in the first six months of the year compared to the same period of 2013, it was announced yesterday.

Packaging company Smurfit Kappa has reported steady results for the first half of 2014, with H1 revenue of €3.95bn up 1% on the same period last year

Paper and packaging giant Smurfit Kappa Group has reported an 81% annualised increase in first-quarter profits, with earnings considerably boosted by a strong underlying performance from its operations in the Americas.

Three former directors of Anglo Irish Bank have given evidence that they instructed the bank’s CEO to immediately inform the financial regulator that Sean Quinn controlled 25% of their shares.

Growth through acquisition in the Americas and Eastern Europe will be a priority focus of Dublin-based paper and packaging group Smurfit Kappa this year.

Shares in paper and packaging giant Smurfit Kappa Group rose over 1% yesterday on the back of a strong set of third quarter figures and indications of improvements in the European market, which still makes up the vast majority of group revenue.

Smurfit Kappa Group has estimated that annual revenue contribution from its markets outside of Western Europe will nearly double over the next two years.

Shareholders in paper and packaging giant, Smurfit Kappa Group were told, yesterday, that the company’s strong balance sheet should allow it to continue awarding investors, following a resumption of dividend payments last year.

Europe is facing a “silent crisis” unless it becomes more pro-business, more competitive and less regulatory, delegates at yesterday’s Ibec CEO conference heard.

Pre-tax profits at Smurfit Kappa Group grew by 33% — on a year-on-year basis — to €295 million, in the first nine months of this year.

Dublin-headquartered paper and packaging business Smurfit Kappa Group has agreed to acquire US containerboard manufacturer Orange County Container Group for $340m (€260m) in a deal aimed at boosting its presence in Mexico.

Dublin-based paper and packaging group Smurfit Kappa has reported a 39% year-on-year increase in first-half pre-tax profits, to €190 million.

Packaging group Smurfit Kappa saw its profit jump by 20% in the first quarter of this year, netting the company an extra €30m.

Packaging firm Smurfit Kappa Group (SKG) has reported a 20% annual rise in operating profits for the first quarter 2012.

Smurfit Kappa this week announced a big jump in its pre-tax profits.

Packaging group Smurfit Kappa will reinstate its dividend following a two-year hiatus after successfully lowering its debt and on the back of an improved outlook.

IRISH packaging group Smurfit Kappa triggered concerns about its profit outlook for next year yesterday after flagging a slowing pace of demand growth in Europe.

VENEZUELAN President Hugo Chavez ordered the removal of Irish cardboard maker Smurfit Kappa Group Plc from all its farm land in an agricultural state as he deepens a push to seize large land holdings from private owners.

PAPER and packaging giant, Smurfit Kappa Group (SKG) is set to focus further on debt reduction after knocking nearly €50m off its net debt during the first quarter of the year.

DIRECTORS’ remuneration at paper and packaging group Smurfit Kappa grew by nearly €1 million last year in the aftermath of the business returning to profit.

PAPER and packaging group Smurfit Kappa returned to profitability last year — posting a pre-tax profit of €103 million compared to a pre-tax loss of €52m in 2009.

Here is a timeline of some the major events in the life of the Fianna Fáil-Green coalition:

An Taoiseach Brian Cowen will go toe to toe today with rebel ministers in the fight for leadership of Fianna Fáil.