It also said Juergen Steinemann, a director of German retail giant Metro, will not be putting himself forward to election to its board "at this time". Mr Steinemann was set to join the board next month following the group's annual general meeting. But he has become embroiled in a probe by German prosecutors into suspected insider trading at Metro. Newly-appointed Aryzta chief executive Kevin Toland, who was formerly CEO of the DAA, will earn a base salary of €858,000. That's compared to the €1.1m that was payable to ex-Aryzta boss Owen Killian in the last financial year, the baked goods firm confirmed yesterday in a circular to shareholders in advance of the AGM. The maximum potential bonus for Mr Toland, a former senior Glanbia executive, is capped at 150pc of salary, and based on the performance of earnings before interest, tax, depreciation and amortisation (EBITDA), and net debt to EBITDA.