AB Inbev family at the helm of Tony's Chocolonely

The Belgian De Spoelberch family, major shareholders of beer giant AB InBev, have increased their stake in ethical chocolate brand Tony’s Chocolonely to become the largest shareholder.

Is the Chief Chocolate Officer leaving?

Verlinvest, the family’s investment fund, is increasing its shareholding in Tony’s Chocolonely from 26 % to 42 %. The fund is taking over shares from co-founder and CEO Henk Jan Beltman, who founded the chocolate manufacturer in  2005 after making a documentary on malpractices in cocoa plantations. Conversely, Beltman is reducing his stake from 42 % to 26 %, Dutch newspaper Financieele Dagblad reports, making Verlinvest the largest shareholder in the company.

‘Chief Chocolate Officer’ Beltman is using the sale to repay debts he incurred when he bought out other co-founders of the company some years ago. He had revealed in December that he might be leaving soon. “I wonder if I should still be taking the lead. I have the feeling that there are people who can manage much better than I can”, he said on Dutch television.

Big decisions will still need to be made jointly, Beltman points out. The company also has other, smaller shareholders: smoothie producer Innocent holds a tenth of the shares, and the employees of Tony’s Chocolonely also have a share package of their own.