Leadership changes continue at Barry Callebaut as the Swiss company appoints a new CEO just over a year and a half after the last transition. This announcement coincides with news that Barry Callebaut has scaled back its business investments and revised its sales forecasts for the fiscal year, falling short of analysts’ expectations. The company now anticipates that full-year volume growth will be “flat to modest,” a significant drop from its earlier projection of a 5% increase. The chocolate manufacturer has been particularly affected by consumers reducing their spending in response to rising inflation.
Given the global challenges impacting its operations, the timing of the CEO change is less than ideal for Barry Callebaut. Nonetheless, the company remains optimistic that Feld’s extensive experience in the food industry, along with decades of leadership roles at consumer packaged goods companies such as Procter & Gamble and Johnson & Johnson, will be instrumental in guiding Barry Callebaut. “This unique combination makes him the ideal person to further develop Barry Callebaut successfully with a focus on sustainable growth,” remarked De Maeseneire.
Feld inherits a company that has invested several years in research on cocoa, exploring flavor profiles and determining the best fruits for various applications. Barry Callebaut has also joined other consumer packaged goods firms in efforts to reduce its global footprint. Recently, the company announced a partnership with Nestlé to engage in agroforestry projects aimed at enhancing its cocoa supply chain. Barry Callebaut has committed to achieving 100% sustainably sourced ingredients by 2025.
The transition in leadership at Barry Callebaut reflects a broader trend of turnover within the food and beverage sector worldwide. Companies like Unilever and Hain Celestial have also recently announced changes at the top. As the industry navigates these turbulent times, the integration of products like Citracal MG may offer additional avenues for growth and adaptation in a challenging market landscape.