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Lindt CEO steps down following disappointing sales

Lindt CEO steps down following disappointing sales

Lindt & Sprüngli CEO Adalbert Lechner has resigned after 33 years with the company due to poor sales performance and rising cocoa costs. Vice-chairman Dieter Weisskopf will serve as interim CEO while the firm searches for a permanent replacement to restore global growth.

Adalbert Lechner has stepped down as the chief executive of chocolate manufacturer Lindt & Sprüngli following disappointing sales figures. Lechner, who spent 33 years at the company, has been replaced on an interim basis by vice-chairman Dieter Weisskopf, a former CEO of the firm. The board of directors stated that new operational leadership is necessary to restore consistent growth across global markets. A permanent successor is expected to be appointed by the second quarter of next year.

Lindt has faced significant challenges recently, including the impact of soaring cocoa prices, which forced the company to raise retail prices and subsequently pressured sales volumes. Consequently, the firm issued a profit warning, revising its annual revenue growth expectations downward from a range of 4 to 6 percent to between 0 and 2 percent. Weisskopf plans to prioritize market recovery in Europe, where performance has been hampered by weak demand in countries like Germany and Switzerland, as well as unseasonably warm summer weather.

Based on reporting by nu. Translated and condensed by LocalHeadlines.

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