Lindt & Sprüngli Faces Shareholder Revolt as Discount Strategy and Weak Guidance Collide

Lindt & Sprüngli is leaning on promotional pricing to win back shoppers, even as a group of heavyweight investors questions whether the company's leadership is capable of fixing the problems that made the discounts necessary in the first place.

Chairman Ernst Tanner laid out the discount-and-price-cut approach in comments reported on 26 October, saying it pains him to see Lindt products on clearance shelves. The strategy follows a period of aggressive price increases: the company raised prices by 19% in 2025, then added a further 12% in the first half of 2026. Reuters cited that misjudged pricing policy, alongside a downgraded growth outlook, as the backdrop to the criticism now coming from major shareholders.

Guidance Cut to 0–2% for 2026

Lindt has trimmed its organic growth forecast for the full year 2026 to a range of 0% to 2%, a reduction that Reuters also tied to the shareholder unrest. The weaker target has given critics of the current leadership additional ammunition.

On the product front, the company is pushing its "Destination Pistachio" platform in the travel retail channel, which by its own account is running at 200 locations. Andres Chaveyriat, marketing director for global travel retail, discussed the rollout and upcoming product launches in an interview published yesterday.

Selective Price Cuts in Germany

In Germany, Lindt is selectively lowering prices on chocolate lines, according to media reports. A 100-gram bar of Lindt Vollmilch is now listed at EUR 2.19 at Rewe and Edeka. Seasonal items are being adjusted as well: the recommended retail price for the 125-gram Santa figure drops from EUR 5.99 to EUR 5.49, while the larger 200-gram version is set to sell for EUR 7.99 instead of EUR 8.99.

Media reports describe Lindt products turning up on promotional displays and bargain bins, which the coverage links to the discount strategy Tanner outlined for recapturing customers.

Tanner Rules Out Stepping Down

Tanner, for his part, has no intention of going anywhere. In comments reported on 25 October, he ruled out resigning and said he is convinced he can make a meaningful contribution to getting the company back on track.

Investors are not all persuaded. Deka Investment and Ethos are among the significant shareholders pressing for a renewal of the board and for limits on Tanner's power, arguing that a change at the CEO level alone will not resolve the governance problems. Interim CEO Dieter Weisskopf has reportedly signaled changes for the 2027 and 2028 annual general meetings. A company spokesperson said the board reviews its composition on a regular basis.

The search for a permanent chief executive is already under way, with Lindt expecting to name a successor in the second quarter of 2027.

Shares slipped 1.3% on Friday. No direct link between that single-day move and Tanner's remarks has been established.