Lindt CEO Exits as Swiss Chocolate Maker’s Slump Deepens
(Bloomberg) — Lindt is on the search for a new chief executive officer as it revamps management to try to engineer a turnaround through one of the most challenging periods ever for the Swiss confectionary industry.
Adalbert Lechner has left after four years at the helm, a period that saw the firm grappling with record-high cocoa costs and weak consumer demand. That put sales and profit margins under pressure, and Lindt has issued two warnings this year alone.
Lindt’s premium positioning in the chocolate market meant it has stuck with cocoa as an ingredient rather than turning to cheaper substitutes such as vegetable oils. That’s left it particularly exposed to the commodity, whose cost rose as extreme weather and diseases caused a supply shock.
The company responded by raising prices as much as 20% in 2025 alone, a strategy that has since come under scrutiny as a cost-of-living crisis hits consumer spending.
Investors questioned Lindt’s leadership and whether maintaining higher prices remained the right approach as a volume recovery in key markets failed to materialize and consumer confidence was further hit by the war in the Middle East. But even after Monday’s change in leadership, some say a wider overhaul may be needed.
“We would welcome further board renewal next spring,” Vontobel analyst Jean-Philippe Bertschy said in a note.
Lindt isn’t the first company to change management as it looks for a route through the current troubles. At the start of the year, Barry Callebaut AG appointed a former Unilever Plc boss in what was its third CEO appointment in less than five years.
Lindt shares fell as much as 3% in Zurich and were down 1.4% as of 11:10 a.m. The stock has fallen about 28% this year. Barry Callebaut is down about 13% so far in 2026.
Lindt, the maker of the iconic golden Easter bunny and the Lindor chocolate balls, is bringing back a former CEO, current vice-chairman Dieter Weisskopf, as interim chief, it said Monday. It expects to appoint a permanent successor in the second quarter of 2027.
“Former CEO Weisskopf’s appointment as interim chief offers continuity, but the board’s call for new operational leadership to restore consistent growth suggests a broader reset,” Bloomberg Intelligence analyst Ignacio Canals Polo said in a note.
Challenging Markets
Previous to his role as group CEO, Lechner headed Lindt’s German and Austrian businesses, giving him first-hand experience in two markets where the chocolate maker has faced some of its biggest challenges recently.
“The board should also face scrutiny: we believe it could have intervened earlier, particularly given Lechner’s extensive experience in Germany and Austria,” Bertschy said.
Lindt also appointed new heads for Germany and Austria as part of its management changes.
Lindt cut its guidance for 2026 sales growth at the end of September and pledged to lower prices for its chocolate products. It had already lowered its outlook in March, but a record heat wave in Europe meant sales didn’t materialize as expected.
(Updates shares, adds comment from analysts starting in fourth paragraph)
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