The turbulent times of Swiss chocolate maker Barry Callebaut

Chocolate production at Barry Callebaut Keystone / Walter Bieri

Last month the world’s largest chocolate manufacturer, Barry Callebaut, announced the sudden departure of its CEO Peter Feld after reports of a high-level split. The move comes as the Zurich-based group struggles with lower volumes, high cocoa prices and internal upheaval.

Barry Callebaut is the world’s largest supplier of chocolate and cocoa products, processing around two million tonnes a year. The company sources cocoa indirectly from around one million farmers, mainly in West Africa, including Ghana and Côte d’Ivoire. An estimated one in four cocoa beans worldwide passes through its supply chain.

The group supplies major chocolate manufacturers as well as chocolatiers, confectioners, bakeries, hotels and restaurants. It employs around 13,000 people globally, making developments at the top of the company closely watched across the industry.

Peter Feld, who had led Barry Callebaut for almost three years, stepped down last month with immediate effect. The sudden nature of the announcement suggests dissatisfaction at board level. During Feld’s tenure, the company’s share price lost around a third of its value.

Former Barry Callebaut CEO Peter Feld. Barry Callebaut

Feld kept a low public profile in Switzerland and rarely gave interviews, often citing ongoing restructuring. His period in office was marked by sweeping organisational changes, including the replacement of several senior managers. Some analysts have questioned whether the expected cost savings from these measures were fully realised.

Barry Callebaut’s profits have fallen significantly over the last two years (in millions of Swiss francs) SRF / Quelle: Jahresberichte

Hein Schumacher took over as CEO on January 26, 2026. According to the company, the Dutch national brings 25 years of experience in the food industry.

Barry Callebaut’s share price has fallen sharply in recent years (price in Swiss francs) SRF / Quelle: LSEG

Schumacher previously served as CEO of Unilever from 2023 to 2025. Before that, he held senior management roles at Royal FrieslandCampina, one of the world’s largest dairy cooperatives.

Hein Schumacher, Barry Callebaut’s new CEO. Barry Callebaut

Beyond internal issues, Barry Callebaut has been hit hard by unfavourable market conditions. Poor cocoa harvests in several producing countries have driven prices sharply higher. At their peak, cocoa prices exceeded $10,000 (CHF13,000) per tonne, around four times the historical average.

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These costs have squeezed margins at a time when demand for chocolate has weakened. In Switzerland, chocolate prices have risen by around 24% over the past five years. In the United States, higher prices have prompted some consumers to switch to alternative confectionery products.

Stabilising operations and restoring confidence will now be among the main tasks facing the new CEO.

Red chocolate made by Barry Callebaut. With this product, the company ventured into new territory a few years ago. Barry Callebaut

Translated from German using AI/amva/sb

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