Annual Report 2021

31. Transactions with Related Parties

A family member of a member of the Board of Directors has a majority share in a company. The Lindt & Sprüngli Group purchased the retail operations from this company in prior year. In relation to this purchase, a contingent consideration of CHF 0.9 million is still outstanding (CHF 0.8 million in prior year), see also note 2 for more information. Moreover, in 2021 operating expenses (mostly rent and energy costs) of CHF 0.8 million have been paid to this company (CHF 0.0 million in prior year). In prior year, the Lindt & Sprüngli Group sold products for the value of CHF 8.4 million to this company and generated license fee income of CHF 0.3 million.

In current and prior year the Lindt & Sprüngli Group provided various administration services to the Lindt Chocolate Competence Foundation, the Lindt Cocoa Foundation, the Finanzierungsstiftung für die Vorsorgeeinrichtungen der Choco­ladefabriken Lindt & Sprüngli AG as well as the Fonds für Pensionsergänzungen der Chocoladefabriken Lindt & Sprüngli AG and also obtained such services from the first two mentioned. Additionally, 140 own shares have been sold to the Finanzierungsstiftung für die Vorsorgeeinrichtungen der Choco­ladefabriken Lindt & Sprüngli AG for a price of CHF 88,920 (200 own shares at a price of CHF 84,080 in prior year). Furthermore, the Lindt & Sprüngli Group rents property from the pension funds with a market value of CHF 16.0 million at December 31, 2021 (CHF 16.7 million in prior year).

The Lindt & Sprüngli Group has provided the Lindt Chocolate Competence Foundation with the building right for the Lindt Home of Chocolate in 2016 and obtains a ground rent for it. The conditions of this contract have been agreed at arm’s length. In addition, the Lindt & Sprüngli Group has provided the funding bank with a security of up to CHF 130.0 million in relation to the con­struction project, which is unlikely to be used. Moreover, there are rental contracts between the Lindt & Sprüngli Group and the Lindt Chocolate Competence Foundation, in particular for office space, and therefore result in rent expenses, rent income, incidental costs and maintenance costs. Additionally, the Lindt & Sprüngli Group uses a pilot plant owned by the Lindt Chocolate Competence Foundation for research, and runs show productions, which the Lindt & Sprüngli Group is compensated for.

Remuneration of the Board of Directors and Group Management

As of December 31, 2021, the Board of Directors consisted of 6 non-executive and executive Directors (6 in prior year). The number of executive Officers as of December 31, 2021, is 7 (7 in prior year). The compensation paid to non-executive Directors and executive Officers is shown below:

CHF thousand





Fixed cash compensation1





Variable bonus component2





Other compensation3
















Total of paid-out gross compensation for Officers and Directors including pension benefits paid by employer amounting to TCHF 331 (TCHF 320 in prior year) and social insurance contributions paid by the employer that establish or increase employee benefits.


As per the Compensation Report it is the expected pay-out (accrual basis) in April of following year according to the application of the CNC and BoD (excluding social charges paid by employer). D. Weisskopf waved his cash bonus for the year 2020.


Employees’ share of social charges (AHV), paid by employer.


The valuation of option grants on Lindt & Sprüngli participation certificates is based on the market value at grant date.

Apart from the payments mentioned above, no payments were made on a private basis or via consulting companies to either an executive or a non-executive member of the Board of Directors or a member of the Group Management. As of December 31, 2021, there were no loans, advances or credits due to the Lindt & Sprüngli Group or any of its subsidiaries by any of the members of the Board of Directors or the Group Management.