Lindt ousts CEO Adalbert Lechner after misjudging price hikes
Lindt & Sprüngli shares tumbled more than 25 percent this year after recent outlook cuts, forcing the Swiss chocolate maker to oust CEO Adalbert Lechner and admit it misjudged consumer resistance to price hikes, according to reporting.
The Cost of Overestimating German Demand
Cocoa prices surged to historic highs from 2024 onward, climbing to £4,356 per metric ton from £2,057 a ton in February, according to Reuters reporting. Executive Chairman Ernst Tanner acknowledged in an interview with the NZZ am Sonntag newspaper that management misread the market, particularly in Germany.
Swiss chocolate maker Lindt & Sprüngli said on Monday that Chief Executive Adalbert Lechner was leaving the company, with former CEO Dieter Weisskopf appointed as interim chief with immediate effect. https://t.co/LQ1Mxjb3Z3
We misjudged how customers would respond to price increases. After cocoa prices reached historic highs from 2024 onwards, we wanted to pass on those additional costs. In doing so, we overestimated how much we could raise prices without hurting demand. For some consumers, our products clearly became too expensive in recent months.
Ernst Tanner, Executive Chairman
The pricing miscalculation triggered weaker customer sentiment across German-speaking markets.
Dieter Weisskopf Returns as Interim CEO
Adalbert Lechner left his post on October 19, 2026, after serving as CEO since October 2022. Former CEO Dieter Weisskopf returned immediately as interim chief executive.
Lindt & Sprüngli said its chief executive Adalbert Lechner was leaving the chocolate maker, after the company's weak recent performance – especially in Europe. https://t.co/F4SMF283lH
Lindt plans to name a permanent CEO in the second quarter of 2027. Alongside the executive departure, Ali Kulein shifted from leading the Austrian branch to head the German arm, while global sales head Fabian Reinhardt took over the Austrian operations.
Vontobel analysts noted that the board shares responsibility for the delayed intervention, given Lechner’s extensive experience in Germany and Austria.
Price Cuts Target Struggling European Operations
While European operations struggled, Lindt maintained that the broader enterprise remains stable. Tanner stated that the company expects to hit its 6 percent to 8 percent growth targets in the Americas and the Far East for the full year 2026.
To stimulate sales volumes, Lindt initiated localized price cuts. Management confirmed that bonuses would be reduced in the Germany-Switzerland-Austria region following missed financial targets, though no group-wide job cuts are planned.
Lindt & Sprüngli CEO Adalbert Lechner has left with immediate effect It comes as the chocolatier struggles with weak demand across core European marketshttps://t.co/fAnyhT3KDz
Lindt’s CEO Adalbert Lechner is leaving the chocolate firm with immediate effect https://t.co/36ke6FMyob