A major shareholder in Irish-Swiss food group Aryzta has called for an extraordinary general meeting to remove a number of board members including chairman Gary McGann.
Cobas is proposing to replace the board members with its own candidates.
It has also called for chief executive Kevin Toland to step down from the board to enable him to focus on its CEO functions.
Cobas also wants board members Annette Flynn, Dan Flinter and Rolf Watter to step down.
The group behind the Cuisine de France brand said it would "carefully" consider the request.
Cobas, Aryzta's largest shareholder, has been pushing for changes at the company since at least 2018.
Aryzta announced a strategic review of operations last week and said it had appointed consultants to review the strategic and financial options available to it to maximise its value for the benefit of shareholders.
Rothschild & Co will carry out the review, which began in April and is expected to be concluded by the end of July.
The move follows concerns among shareholders about ongoing falls in the company's share price, which have seen it drop from a high in 2014 of just under 18 Swiss francs to 0.35 in recent days.
Earlier this month Aryzta, which also makes McDonald's hamburger buns and Otis Spunkmeyer cookies, said it had implemented a range of measures to reduce costs during the Covid-19 pandemic restrictions.
The group said it has paused production in three bakeries in Europe and five in north America since April 30.
It also temporarily closed other production lines within bakery plants in order to reduce capacity in line with demand.
Around 30% of its staff have been temporarily laid off, while future capital expenditure with the exception of maintenance and health and safety has been suspended.
This the company says has yielded savings of more than €50m.
Shares in the company moved higher in Dublin trade today.
