Nestle CEO Mark Schneider will step down from his position after eight years on the helm, the Swiss meals large introduced on Thursday. Schneider, who additionally serves as a board member, will formally relinquish his positions on September 1, in line with a report by AFP.
“Main Nestle for the previous eight years has been an honor for me. I’m grateful for what we now have achieved, having remodeled Nestle right into a future-proofed, progressive and sustainable enterprise,” mentioned Schneider in an announcement.
Schneider, the previous CEO of German healthcare agency Fresenius, grew to become Nestle’s first exterior rent for the highest place in almost 100 years when he took over in 2016. For the reason that starting of 2017, Nestlé’s inventory has risen by 22 per cent, roughly half the rise seen by rival Unilever Plc over the identical interval.
Who’s Laurent Freixe?
Laurent Freixe (62), at the moment head of Nestle’s Latin America division, will succeed Schneider. Freixe, who joined the corporate in 1986, has had a longstanding profession with Nestle, overseeing the corporate’s European zone throughout the 2008 monetary disaster. Since 2022, he has efficiently led the Latin American area via difficult market circumstances.
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Nestle additionally introduced that Freixe has been nominated as a candidate for the board of administrators at its 2025 annual common assembly.
In latest developments, Nestle lowered its gross sales development outlook for 2024 after slowing value will increase within the first half of the 12 months. The corporate, recognized for manufacturers like Nespresso, Purina, and Haagen-Dazs, had recorded excessive gross sales development in earlier years because it raised costs to counter hovering inflation.
Nestle has confronted scrutiny in recent times, together with accusations from the Swiss NGO Public Eye over the advertising of child meals with excessive sugar content material in low-income nations. Nestle denied these claims, asserting that it applies the identical vitamin and well being ideas worldwide. The corporate additionally confronted issues over its Perrier model after French authorities really useful stricter monitoring at its water extraction websites resulting from traces of contamination. Nestle responded by growing monitoring efforts and reaffirming the protection of its water.
Chairman Paul Bulcke praised Freixe as the perfect candidate to guide Nestle into its subsequent chapter. “Laurent is a gifted chief with strategic acumen, in depth in-market expertise, and a deep understanding of each markets and shoppers,” Bulcke mentioned. Freixe will take over as Nestle CEO starting September 1.
