Nestlé announces leadership change as Mark Schneider steps down.
Nestlé, the global food giant, is undergoing a leadership transition as CEO Mark Schneider steps down after eight years in the role. The company announced on Thursday, following the market close, that Laurent Freixe, currently heading Nestlé’s Latin American operations, will take over as CEO starting September 1st. Freixe is also set to be elected to the Nestlé Board of Directors in 2025. Paul Bulcke, Chairman of the Board, praised Freixe’s ability to deliver results under challenging market conditions, positioning him as the right leader for the company’s future.
This leadership change follows Nestlé’s recent adjustment of its growth outlook for 2024, lowering expectations for organic sales growth from four to at least three percent. Schneider, who took the helm in January 2017 after leading the German medical technology company Fresenius, has been credited with reshaping Nestlé by selling weaker divisions and acquiring stronger growth areas. Bulcke highlighted Schneider’s significant contributions to Nestlé’s sustainability efforts. Freixe, who joined Nestlé in 1986, has been part of the executive board for the past 16 years, leading several global initiatives to enhance productivity, efficiency, and innovation. Bulcke expressed confidence that Freixe will further strengthen Nestlé’s position as a reliable company with consistent and sustainable value creation.
