Nestle CEO Mark Schneider to step down after eight years at helm
The Hindu
Nestle CEO Mark Schneider steps down after 8 years, replaced by Latin America boss Laurent Freixe.
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 (August 22, 2024).
Mr. 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 from September 1, 2024.
“Leading Nestle for the past 8 years has been an honour for me. I am grateful for what we have achieved, having transformed Nestle into a future-proofed, innovative and sustainable business,” Mr. Schneider said in the statement.
“Mr. Freixe, who joined Nestle in France in 1986, “successfully managed” the company’s European zone during the 2008 financial crisis and until 2014,” the statement said.
He was then named CEO of the Americas region before taking over at the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions”.
Nestle said Mr. Freixe has been nominated as a candidate for the board of directors at its 2025 annual general meeting.
Nestle, whose brands range from Nespresso coffee capsules to Purina dog food and Haagen-Dazs ice cream, lowered its sales growth outlook for 2024 last month as it slowed its price increases in the first half of the year.