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(Sharecast News) - Barry Callebaut is to replace its chief executive, the world's largest chocolate maker confirmed on Wednesday, as it seeks to revive its fortunes following a difficult period for the cocoa industry.
The Swiss group said former Unilever chief executive Hein Schumacher would take on the top role from 26 January, replacing Peter Feld. Chair Patrick De Maeseneire said Barry Callebaut was embarking on a "new chapter of growth".
He continued: "Hein is a seasoned and decisive leader with a unique blend of expertise in food, business-to-consumer, business-to-business and ingredients.
"He is the right leader at this stage to chart Barry Callebaut's next phase of increased customer focus, winning culture and financial strength."
De Maeseneire separately told analysts that "doing a transformation requires a certain profile of leader".
Feld took over as chief executive of the business - which supplies cocoa and chocolate products to some of the world's biggest food brands - in 2023. During his leadership the industry has been hit by major supply disruptions and soaring cocoa prices, however.
First-quarter results, also published on Wednesday, showed the current year had begun, as anticipated, "softly".
Sales volumes in global chocolate fell 6.8%, as consumers baulked at higher prices, while global cocoa sales volumes slumped 22%. Overall group sales volumes were down 9.9%.
Sales revenues jumped 8.9% to CHF3.7bn, supported by higher prices.
Chief financial officer Peter Vanneste acknowledged it had been a "challenging environment".
However, looking ahead and he said: "Encouragingly, cocoa bean prices have reduced further since the start of the year and the crop is developing in line with our expectations.
"This is a positive signal for customer confidence and market behaviour into the second half of the year.
"Our clear priorities for the 2026 full year are to return to growth and to further deleverage."
Dutch-national Schumacher, 54, was chief executive of Unilever between 2023 and 2025. Prior to that he worked at dairy giant Royal FrieslandCampina and HJ Heinz, now Kraft Heinz.