Nestle CEO Mark Schneider To Step Down After 8 Years, Laurent Freixe To Take Over

Schneider "has decided to relinquish his roles as CEO and member of the Board of Directors", Nestle said in a statement, adding that the move would be effective September 1.

Nestle chief executive Mark Schneider is leaving the Swiss food group after eight years in charge and will be replaced by Latin America boss Laurent Freixe, the company said Thursday.

Schneider "has decided to relinquish his roles as CEO and member of the Board of Directors", Nestle said in a statement, adding that the move would be effective 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 said in the statement.