Swiss chocolate maker Lindt & Sprüngli announced Monday it was parting ways with chief executive Adalbert Lechner after issuing two revenue warnings within a year.
The board of directors said new leadership was needed to put the company, known for its Lindor chocolate truffles and chocolate Easter bunnies, back on a path to sustained growth.
"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 company said in a statement.
Former chief executive Dieter Weisskopf, 71, will take over as interim CEO with immediate effect, the company said in a statement from its headquarters in Kilchberg, Switzerland.
Weisskopf, who is also vice chair of the board of directors, previously served as the company's chief financial officer for many years and led the group until 2022.
A permanent successor is expected to be appointed in the second quarter of 2027.
Lechner, 65, had worked for Lindt for 33 years and took over as chief executive in early 2022. The company provided no further details about the circumstances of his departure.
Executive chair Ernst Tanner thanked Lechner for his contribution to the company and expressed confidence in its future.
"Our brands and market positions are strong, and our focus continues to be on delivering exceptional products and experiences for our consumers and on profitable growth for our shareholders," Tanner said.
Lindt & Sprüngli has been struggling with declining sales volumes for months after sharply raising prices in response to soaring cocoa costs.
The company increased prices by an average of 11.8% in the first half of 2026, while the volume of products sold fell significantly.
In July, Lindt reported slightly higher first-half earnings but said its performance had been affected by higher prices, geopolitical tensions, market volatility and inflation.
Consumers in Germany, Switzerland and Britain proved more sensitive to the higher prices than expected, prompting Lindt to begin cutting prices on selected products over the summer. The company has also introduced smaller packaging.
In late September, Lindt lowered its sales forecast for the second time this year. It now expects organic sales growth of just 0% to 2% in 2026, down from its original forecast of 6% to 8%.
In addition to higher prices, summer heat in Europe weighed on business. The revised outlook triggered a sharp fall in the company's share price.
Weisskopf will now focus on restoring growth in Europe, while increasing investment in the company's brands and improving profitability. Business in North America and Asia has been performing significantly better.
Lindt is also replacing the head of its German operations.
Michal Spiller is leaving the company after 23 years and will be succeeded by Ali Kulein, who currently heads Lindt's Austrian business.