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More sales and more profits: Adalbert Lechner (62), CEO of Lindt & Sprüngli since October 2022, presented pleasing figures in his first year as CEO.
Ernst Tanner, 77, who has held Lechner’s post for almost 30 years, was not present at the presentation of the annual results. But the annual report reveals something remarkable about the Swiss chocolate baron: Tanner sold millions worth of company shares in 2023.
The sale raises questions: Is this related to the bankruptcy of René Benko’s (46) Signa Group, in which Tanner invested heavily? Or will the money flow to Orderfox, a company headed by his son Derek, 42, which wants to connect industrial manufacturers with suppliers? The financial portal “Inside Paradeplatz” speculated about this a few weeks ago.
Tanner is still on board
When Blick asked, the chocolate king pushed him away. Through his group’s media office, Tanner announced that he had only two reasons for selling his Lindt & Sprüngli shares: the first was to repay existing mortgages, and the second was to invest in real estate.
How and where Tanner invests in land or buildings (whether for private purposes or as a major professional investor) is kept to himself.
But those who want to interpret the sales as a vote of no confidence in Lindt and new CEO Lechner should know this: Tanner still has a significant stake in the company he has successfully led for the last three decades. Tanner now has 3,067 registered shares worth 336 million francs, i.e. a total value of over 400 million, in addition to the remaining 5,786 participation certificates with a total value of approximately 65 million francs.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
