New CEO to seek fresh capital for Galler

Sébastien Desclée is the new interim CEO of Belgian chocolate manufacturer Galler. As such, he will lead a transformation process for the company, which wants to attract new capital.  

Major setbacks

Desclée succeeds Salvatore Iannello at the helm of Galler, a company he knows well, having been a member of its board of directors for many years. He specifies to Belgian newspaper La Libre that this is a temporary appointment. The new CEO will implement changes at Galler that are hoped to lead to the arrival of new capital. “We’ll see what happens after that”, Desclée said.

Galler has not been spared in recent years: in 2021, the factory in Chaudfontaine was severely hit by the flooding in the Vesdre region. The coronavirus pandemic, high inflation, and the raw materials crisis have also taken their toll on the company. As a result, the chocolatier is struggling with debts.

Last summer, Galler raised 12.6 million euros in capital from existing shareholders and the Walloon Region, bringing 49.6 % of the shares back into Belgian hands, while the main shareholder from Qatar retains a 50.4 % stake. Galler has a turnover of 35 million euros and employs 160 people.