Nestle Chief Executive Officer Marc Schneider is leaving the company after eight years at the helm of the Swiss food group and will be replaced by Latin America chief Laurent Freix, the company said on Thursday.
Nestle said in a statement that Schneider “has decided to step down from his roles as CEO and member of the board of directors”, adding that the move would be effective Sept. 1.
“It has been an honor to lead Nestlé for the past eight years. I am grateful for what we have achieved as we have transformed Nestlé into a future-proof, innovative and sustainable business,” Schneider said in the statement.
Freix, who joined Nestle in France in 1986, “successfully managed the company’s European region during the financial crisis of 2008 and until 2014,” the statement said.
He was subsequently appointed CEO of the Americas region and will take charge of the newly created Latin America region in 2022, “where he is successfully leading under challenging circumstances”.
Nestle said Freikes has been nominated as a candidate for the board of directors at the 2025 annual general meeting.
‘perfect fit’
Nestle, whose brands range from Nespresso coffee capsules to Purina dog food and Haagen-Dazs ice cream, last month lowered its sales growth forecast for 2024, as it slowed its price increases in the first half of the year.
The global packaged-food giant and its rivals had posted high sales growth over the past three years as they raised prices to offset increased costs due to rising inflation.
The company has also faced controversy in recent years, when Swiss NGO Public Eye accused Nestlé of selling infant food with high levels of added sugar in low-income countries but not in rich countries.
Nestlé has said it has no “double standards” and applies the same nutrition and health principles everywhere.
France’s food safety regulator has recommended tighter monitoring at locations where Nestlé produces mineral water after traces of “faecal” contamination were found, prompting the company to take steps to alleviate any concerns over its Perrier brand.
The company has said it has increased monitoring of the sites, and Schneider said the group’s water is safe to drink.
Nestle said on Thursday that Schneider “actively shaped the company’s portfolio, in line with Nestle’s strategy and focusing on high-growth categories such as coffee, pet care and nutritional health products.”
Nestlé Chairman Paul Bulcke praised Freikes as “a talented leader who has strategic skills, extensive market experience and expertise, and a deep understanding of markets and consumers.”
“Laurent is a perfect fit for Nestlé at this point in time,” Bulcke said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
