Barry Callebaut CEO exit linked to board clash over proposed cocoa business separation

SWITZERLAND – Barry Callebaut and its former chief executive officer Peter Feld parted ways last month following a previously unreported strategic clash over a proposal to separate the group’s cocoa business, according to sources quoted by Reuters. Members of Barry Callebaut’s board, including chairman Patrick De Maeseneire, opposed the proposal, the sources said. The cocoa segment accounted for 31% of the group’s total sales revenue and 15.5% of operating profit in the 2024/25 financial year, underlining its significance to the Swiss chocolate maker’s integrated model. In December, reports indicated that Barry Callebaut was in the early stages of assessing a potential separation of its lower-margin cocoa division, with the possibility of selling a minority stake at a later stage. The discussions were aimed at addressing the company’s exposure to volatile cocoa prices. “One reason for the departure was diverging views regarding the company’s future strategy,” a person with ...