Nestle chief govt Mark Schneider is leaving the Swiss meals group after eight years in cost and might be changed by Latin America boss Laurent Freixe, the corporate mentioned Thursday.
Schneider “has decided to relinquish his roles as CEO and member of the Board of Directors”, Nestle mentioned in a press release, including that the transfer could be efficient from September 1.
“Leading Nestle for the past 8 years has been an honor for me. I am grateful for what we have achieved, having transformed Nestle into a future-proofed, innovative and sustainable business,” Schneider mentioned within the assertion.
Freixe, who joined Nestle in France in 1986, “successfully managed” the corporate’s European zone throughout the 2008 monetary disaster and till 2014, the assertion mentioned.
He was then named CEO of the Americas area earlier than taking up on the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions”.
Nestle mentioned Freixe has been nominated as a candidate for the board of administrators at its 2025 annual normal assembly.
Good match
Nestle, whose manufacturers vary from Nespresso espresso capsules to Purina pet food and Haagen-Dazs ice cream, lowered its gross sales progress outlook for 2024 final month because it slowed its worth will increase within the first half of the 12 months.
The worldwide packaged-food big and its rivals had logged excessive gross sales progress prior to now three years as they raised costs to make up for greater prices because of hovering inflation.
The corporate has additionally confronted controversy in recent times, with Swiss NGO Public Eye accusing Nestle of promoting child meals with excessive ranges of added sugar in low-income nations however not in wealthier nations.
Nestle has countered that it had “no double standard” and utilized the identical diet and well being ideas in every single place.
It has additionally scrambled to ease any considerations over its Perrier model after France’s meals security watchdog advisable stricter monitoring of websites the place Nestle extracts mineral water following the invention of traces of “faecal” contamination.
The corporate has since mentioned it has stepped up monitoring of the websites, and Schneider has mentioned the group’s water was protected to drink.
Freixe acknowledged that “there will always be challenges” however expressed confidence in Nestle’s means to “lead and win everywhere we operate”.
Nestle mentioned Thursday that Schneider “has actively shaped the company’s portfolio, in line with Nestle’s strategy and with a focus on high-growth categories like coffee, pet care and nutritional health products”.
Nestle chairman Paul Bulcke praised Freixe as “a talented leader with strategic acumen, extensive in-market experience and expertise as well as a deep understanding of markets and consumers”.
“Laurent is the perfect fit for Nestle at this time,” Bulcke added.
