Swiss chocolate manufacturer Lindt & Sprungli is facing challenges as it announced on Monday the removal of its CEO, Adalbert Lechner, who has been at the helm since October 2022. In his place, former CEO Dieter Weisskopf has stepped back in on an interim basis. Following this announcement, the company’s stock fell by 1.7%, having already lost a quarter of its value this year.
The upheaval comes after Lindt lowered its sales forecasts for 2026 for the second time this year, citing soaring cocoa prices and a decline in chocolate consumption in Europe. Cocoa prices have skyrocketed to approximately $5,800 per metric ton as of Friday, up from around $2,700 in February. Additionally, weakened consumer sentiment in German-speaking markets has contributed to the company’s struggles.
Leadership Changes Extend Beyond CEO
This leadership change is not the only one affecting the company, as there are also shifts within its divisions. Ali Kulein, currently the president of the Austrian division, will take over the German division, while global sales head Fabian Reinhardt will lead the Austrian business.
A spokesperson stated that the leadership transition will not impact Lindt’s annual guidance, despite the ongoing challenges facing the chocolate industry.
