Lindt Ousts CEO Adalbert Lechner as Growth Slows and Cocoa Costs Bite
Lindt & Sprungli, owner of Ghirardelli, has replaced its CEO after cutting its outlook twice. Former chief Dieter Weisskopf returns on an interim basis.
Big Food’s CEO shake-up has reached Swiss chocolate. Lindt & Sprungli is replacing its chief executive after a difficult year.
TLDR
- CEO Adalbert Lechner is leaving Lindt & Sprungli, the owner of Ghirardelli.
- Former CEO Dieter Weisskopf returns as interim chief.
- Organic sales growth is now forecast at 0% to 2%, down from an initial 6% to 8%.
- A permanent CEO is expected to be named in the second quarter of 2027.
What Happened
Lindt’s board said new leadership was needed to “return to consistent, strong growth and to capture opportunities in all its markets globally,” Food Dive reported. Dieter Weisskopf, the board’s vice chairman and CEO until 2022, will lead the company until a successor is found.
“We will invest significantly in our brands while improving our profitability,” Weisskopf said. “My task is to hand over to the next CEO a company with renewed momentum.”
The Pressure
Lindt has cut its outlook twice this year. It now expects organic sales growth of 0% to 2%, compared with its initial target of 6% to 8%. Consumers are pulling back, volatile cocoa prices have pushed up costs, and last month the company blamed weaker orders in Germany, Switzerland and Austria.
Why It Matters
Lindt joins Hershey, Nestle, Kraft Heinz and Coca-Cola on the list of big food and candy companies that have changed chief executives recently. Premium chocolate was supposed to hold up when cocoa prices spiked. Lindt’s reset shows how hard it is to pass record costs on to shoppers who are already cutting back.
Sources: Food Dive; ConfectioneryNews.