Business · Companies · 15 hrs ago
Lindt shareholders call for board changes after CEO’s removal
Lindt & Sprüngli removed CEO Adalbert Lechner, prompting calls for wider changes at the Swiss chocolate company.
Several major shareholders say the board should also be renewed, with particular criticism directed at chair Ernst Tanner.
Investors have questioned the concentration of power at the top and the board’s role in the company’s problems.
Ethos, an investor organization, says only three of the board’s eight members meet its criteria for independence.
One major shareholder also said the board shares responsibility for the company’s pricing policy.
Interim CEO Dieter Weisskopf has said board renewal will be addressed in 2027 and 2028, but has not said who might leave.
Tanner has ruled out stepping down soon, saying he wants to help put the company back on track.
Several major Lindt & Sprüngli shareholders are calling for changes to the company’s board after CEO Adalbert Lechner was removed.
They have criticised the concentration of power around 80-year-old board chairman Ernst Tanner and say changes should extend beyond management.
Ethos director Vincent Kaufmann said a CEO change alone would not resolve corporate-governance problems.
Interim CEO and board vice-chair Dieter Weisskopf has announced plans to rejuvenate the board at the 2027 and 2028 annual meetings.
Tanner has ruled out stepping down soon, saying he believes he can help put Lindt back on track.
- Who
- Several major Lindt & Sprüngli shareholders are seeking board changes after CEO Adalbert Lechner’s removal.
- What
- They are calling for changes to the board, particularly around the power of chairman Ernst Tanner.
- When
- Reported on November 4, 2026, following Lechner’s recent removal.
- Where
- Lindt & Sprüngli; the company’s location is not stated.
- Why
- Shareholders say a CEO change alone will not address governance concerns, including concentrated power and the board’s composition.
Shareholders calling for board changes
Ernst Tanner
Board changes
Shareholders calling for board changes
They say renewal should extend beyond management and that the concentration of power must end.
Ernst Tanner
Tanner has ruled out stepping down soon and says he can help put the company back on track.
Responsibility
Shareholders calling for board changes
They argue the board shares responsibility for the company’s problems, including its pricing policy.
Ernst Tanner
Tanner says he wants to contribute to returning Lindt to the right course.
Tanner told NZZ am Sonntag that he wanted to help put Lindt back on track and would not step down because of his age alone.
Lindt & Sprüngli CEO Adalbert Lechner was removed.
Interim CEO and board vice-chair Dieter Weisskopf said the board would be rejuvenated at the annual meetings.
Watson reported that several major shareholders were calling for board changes.
- Board chairman
- Ernst Tanner, 80
- Board composition
- Three of eight directors are independent, according to Ethos criteria.
- Directors’ ages
- Six of eight are at least 70, according to a major shareholder.
- Board renewal
- Planned for the 2027 and 2028 annual meetings.
- Investors interviewed
- Reuters spoke to five significant investors, including three of the 20 largest shareholders.
3 sources
What people are saying
Die Erneuerung darf nicht bei der Geschäftsleitung aufhören
Ein CEO-Wechsel allein löse die Probleme bei der Unternehmensführung nicht.
Allein wegen seines Alters werde er aber nicht zurücktreten.
Das grösste Problem von Verwaltungsräten ist, dass sich die Mitglieder nicht trauen, vermeintlich dumme Fragen zu stellen oder einer dominanten Persönlichkeit zu widersprechen.