Chocolate maker Lindt ousts CEO after poor European results, two outlook cuts

By Tristan Veyet

Oct 19 (Reuters) - Lindt & Sprüngli said on Monday that CEO Adalbert Lechner was leaving the company following the chocolate maker's recent outlook cuts and weak performance in Europe, with former CEO Dieter Weisskopf taking over as interim chief with immediate effect.

"The Board of Directors has concluded that Lindt & Sprüngli requires new operational leadership to return to consistent, strong growth and to capture opportunities in all its markets globally," the Swiss company said in a statement.

Lindt shares, which have shed a quarter of their value so far this year, fell 1.7% by 0731 GMT.

Last month, Lindt cut its 2026 sales forecast for the second time this year amid surging cocoa costs and weaker chocolate consumption in Europe. Cocoa prices had risen to £4,356 ($5,803) per metric ton as of Friday, from £2,057 a ton in February.

Weaker customer sentiment in Lindt's German-speaking markets has been a growing concern, and the company is also switching leadership in its Austrian and German businesses in response.

Ali Kulein, current CEO of the Austrian branch, will become the head of the German arm, while head of global sales Fabian Reinhardt will lead the Austrian business.

"The board should also face scrutiny: we believe it could have intervened earlier, particularly given Lechner's extensive experience in Germany and Austria, the markets at the centre of the current debate. We would welcome further board renewal next spring," Vontobel analysts said in a note following the news.

Lechner had been the CEO since October 2022. Lindt said it aimed to appoint a new permanent CEO in the second quarter of 2027.

A company spokesperson said the leadership change did not impact Lindt's full-year guidance.

($1 = 0.7506 pounds)

(Reporting by Tristan Veyet in Gdansk, editing by Milla Nissi-Prussak)