Barry Callebaut has appointed Hein Schumacher, the former CEO of Unilever and FrieslandCampina, as its new chief executive. This strategic move comes as the B2B chocolate powerhouse contemplates a potential separation of its cocoa division. Following the announcement on January 21, shares in Barry Callebaut increased, signaling investor confidence.
The company reported an 8.9% revenue growth, reaching SFr3.67 billion ($4.64 billion) for the first quarter ending November 30. However, it also experienced a nearly 10% decline in volume. Notably, Barry Callebaut highlighted a broader trend of decreasing sales in the chocolate confectionery market, as indicated by Nielsen figures.
Schumacher has significant experience, having led Unilever during its consideration to spin off its ice cream business in March 2024. He departed from Unilever in February of the previous year, just before the completion of that separation, which resulted in the formation of The Magnum Ice Cream Company—a client of Barry Callebaut.
He takes over from Peter Feld, who has decided to pursue other career opportunities after leading the company since 2023. Patrick De Maeseneire, chairman of Barry Callebaut, stated that the transition comes at an opportune time as the company finishes its “BC Next Level” transformation program. This initiative aims to streamline operations and enhance agility, particularly amid unprecedented cocoa bean prices and challenging market conditions.
“There is a clear moment of opportunity for a leadership change. Peter has adeptly managed the company through a challenging period, and we are grateful for his significant contributions,” De Maeseneire noted.
In contrast to speculations, De Maeseneire has clarified that Barry Callebaut is not actively exploring the divestiture of its cocoa division. The news of Schumacher’s appointment coincided with the release of the company’s sales figures.
In its last full financial year, which concluded in August, Barry Callebaut achieved a remarkable 42.4% revenue increase to SFr14.79 billion, largely driven by price adjustments to accommodate rising cocoa bean costs. However, it also noted a 6.8% reduction in volume.
De Maeseneire articulated confidence in Schumacher’s leadership: “Hein brings a wealth of experience in both B2B and B2C markets, essential for navigating our next chapter focused on customer engagement and financial resilience.”
After the announcement, shares in Barry Callebaut rose by 2.41% to SFr1,277 at 14:11 CET, peaking at SFr1,328 earlier that day.