Lindt investors demand boardroom changes following CEO ouster

Major investors in Swiss chocolate manufacturer Lindt & Spruengli are calling for significant changes to the company board. This push for renewal follows the recent removal of CEO Adalbert Lechner, which occurred after two sales warnings and pricing missteps related to rising cocoa costs.

Shareholders, including representatives from Deka, have expressed a desire to refresh the board and limit the influence of Chairman Ernst Tanner, who has held his position for 32 years. The company's shares have declined by approximately 25 percent this year due to weak performance in Europe and lowered outlooks.

Lindt has initiated a search for a new CEO, with an appointment expected in the second quarter of 2027. While the company stated that board composition is reviewed regularly as part of succession planning, the recent investor feedback marks a significant rebuke of current leadership.