The sudden departure of Barry Callebaut CEO Peter Feld followed a heated strategic conflict over the future of the cocoa division. The board of directors of the world’s largest chocolate manufacturer opposed Feld’s proposal to spin off the cocoa division.
Non-negotiable proposal
Feld clashed with board members, including chairman Patrick De Maeseneire, over the plan to separate the lower-yielding cocoa activities from the rest of the group. That is what two sources told Reuters. “The CEO was open to a spin-off of the cocoa division and a possible transaction, but for parts of the board of directors—including the chairman—this was non-negotiable,” one source said.
