Bakery giant Aryzta has announced the appointment of Nestlé executive Martin Huber as its new group chief financial officer.
He replaces Jonathan Solesbury, who has served as the interim finance chief of Aryzta since November 2020.
The board of Aryzta has thanked Solesbury for his leadership and contribution since November.
The company reported a 0.6% increase in organic revenue in its Europe division in the third quarter of its financial year, as the business' post-COVID turnaround continues.
'An Experienced Professional'
Huber is an experienced professional who, most recently, served as the chief financial officer of Nespresso.
He brings a wealth of finance and management expertise with a strong track record in driving value creation in turnaround and business growth situations, Aryzta said.
He has multinational experience, having lived and worked in Switzerland, Germany, Venezuela, Colombia, Mexico, and Brazil.
'Experienced Management Team'
Commenting on the appointment, Aryzta AG chair and interim CEO Urs Jordi said, "I am very pleased with the appointment of Martin Huber as our new group CFO.
"This is the continuation of establishing a new experienced management team to continue the rebuilding of the Group into a successful, international and multi-local bakery business."
Over the last 20 years at Nestlé, Huber has held senior finance and management positions as market CFO, Head of Group Control at Nestlé S.A.
In 2018, he stepped in as the chief financial officer for the globally managed business of Nespresso, the bakery giant added.