Hein Schumacher Takes Helm at Barry Callebaut Amid Cocoa Sales Dip

Barry Callebaut announced Hein Schumacher, former Unilever executive, as their new CEO. The company reported a 9.9% drop in cocoa product sales for Q1, below expectations. Despite leadership changes, Barry Callebaut maintains their financial outlook for the year amidst high cocoa prices and declining demand in major markets.

Barry Callebaut announced on Wednesday the appointment of Hein Schumacher, former Unilever boss, as its new chief executive. The announcement came alongside its first-quarter results, which showed a 9.9% decrease in cocoa product sales, falling short of market expectations.

The Swiss cocoa giant, a key supplier for products like Magnum ice creams and KitKat bars, reported sales volumes of 509,401 tonnes, against an analyst expectation of 512,000 tonnes. Despite the sales dip, the company confirmed its financial outlook for the year.

Hein Schumacher, a Dutch national previously ousted from Unilever, will take over on January 26. His appointment follows a series of leadership changes in major consumer companies. Schumacher is expected to leverage his extensive industry connections to navigate Barry Callebaut through current challenges, including fluctuating cocoa prices and declining demand in Asia and Europe.

(With inputs from agencies.)