Lindt & Sprüngli has fired CEO Adalbert Lechner after disappointing sales in Europe and two profit warnings this year. The company announced on Monday that former CEO Dieter Weisskopf will take over as interim leader immediately. The board believes new leadership is needed to restore growth and take advantage of global market opportunities.
Key Details
Lechner, who became CEO in October 2022, oversaw a big drop in Lindt's stock value, which has fallen by a quarter in 2023. The company has struggled with rising cocoa prices, which reached £4,356 (US$5,803) per metric tonne. This increase has led to retail prices rising by an average of 11.8% in the first half of 2026. The price hikes have hurt sales volumes, especially in Germany, Switzerland, and Britain, where consumers are more sensitive to higher prices than expected.
In light of these challenges, Lindt has lowered its revenue forecast for 2026. The company now expects organic growth of just 0-2%, down from the previous estimate of 6-8%. Analysts at Vontobel pointed out that the board should be questioned for not acting sooner, given Lechner's extensive experience in key markets.
Background
Lindt plans to name a permanent CEO by the second quarter of 2027. A spokesperson confirmed that this leadership change will not impact Lindt's full-year guidance.
Lindt's leadership change and profit warnings may cause further volatility in its stock. This is especially true as the company deals with rising cocoa costs and shifting consumer preferences. Investors will be watching for the appointment of a permanent CEO and any strategic changes that may come from this leadership transition.
Based on reporting by: businesstimes.com.sg, swissinfo.ch