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Drinks

Anora's Chief Financial Officer To Depart

By Steve Wynne-Jones
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Anora's Chief Financial Officer To Depart

Drinks group Anora has announced the resignation of chief financial officer Sigmund Toth, with the search for his successor now under way.

Toth will continue in his current position until 1 August, with the company stating that he remains 'highly committed to contributing to the company’s success during his notice period, including ensuring a smooth handover to his successor'.

He has acted as chief financial officer and member of the Nordic drinks firm's executive management team since the merger between Altia and Arcus in September 2021. Prior to that, he held the position of CFO and interim CEO of Arcus.

'Heavily Involved'

“Sigmund has been heavily involved in defining Anora’s growth strategy up to 2030," commented Jacek Pastuszka, chief executive of Anora. "I want to thank him for his valuable contribution in developing the financial steering of the company and wish him all the best for the future."

Elsewhere, Michael Holm Johansen, chairperson of Anora’s board of directors, stated that he and his fellow directors wanted to thank Toth for "his valuable contribution in developing the company through the merger between Altia and Arcus, as well as the acquisitions made since. We wish him all the best in his future endeavours".

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Profit Guidance

In December, Anora revised its full-year profit guidance for full-year 2023, anticipating comparable EBITDA to range between €66 million and €69 million, a decrease from the previously forecasted €70 million to €78 million.

The adjustment is attributed to weaker profitability in the wine segment and reported lower monopoly sales in the fourth quarter. Anora's comparable EBITDA for 2022 was €76.1 million.

As part of ongoing efforts to enhance profitability, the company announced in November that it would be refining its operational model and structure. The plan involves streamlining operations across all business segments—Wine, Spirits, and Industrial—with anticipated savings falling within the €3 million to €4 million range.

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