Lindt investors seek board shake-up at chocolate maker after CEO ouster
ZURICH: Influential investors in Swiss chocolate maker Lindt & Spruengli are calling for sweeping boardroom changes at the maker of Lindor truffles after pricing missteps hammered the share price and led to the ousting of its CEO last month.
Influential investors at Swiss chocolate maker Lindt & Spruengli are demanding significant changes to the boardroom structure following the ousting of CEO Adalbert Lechner last month. The call for a boardroom shake-up comes after pricing missteps caused a drop in the share price and negative outlooks for the company's performance.
The investors want the board to be renewed and the powers of Chairman Ernst Tanner, who has held the position for 32 years, to be curbed. Only one major shareholder supports the current board, while the rest are seeking change. The company's shares have fallen about 25% this year due to weak performance in Europe and outlook cuts.
Lindt has appointed interim CEO Dieter Weisskopf to lead the search for a new CEO, which is expected to be appointed in the second quarter of 2027. Lindt's current board has launched the search for a new CEO, but investors are calling for a more comprehensive change in governance.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
