Shares in Cuisine de France owner Aryzta fell by nearly 9% yesterday on the back of the group reporting flat quarterly underlying revenues and a fall in business in North America.

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.

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.