SWITZERLAND -Nestlé, the world’s largest food company, has announced Laurent Freixe as its new CEO, effective September 1, 2024.
This decision follows Mark Schneider’s resignation, which was made on August 22, 2024. The announcement marks a significant leadership transition for the Swiss multinational known for its popular brands, including KitKat and Maggi.
While Nestlé did not provide specific reasons for Schneider’s departure, it stated that he “decided to relinquish his roles as CEO and member of the board of directors.”
Schneider’s tenure at Nestlé was characterized by a focus on transforming the company’s portfolio and enhancing its sustainability practices.
Under his leadership, the company made strategic asset disposals, including selling its U.S. confectionery business to Ferrero for approximately US$2.91 billion in 2018.
This move was part of a broader strategy to streamline operations and focus on high-growth categories such as pet food, coffee, and infant nutrition.
Freixe, who has been with Nestlé since 1986, previously served as the CEO of Nestlé’s Latin America division.
His extensive experience includes managing operations during the financial crisis from 2008 to 2014 and leading the Americas region.
Bulcke, the chairman of Nestlé’s board, expressed confidence in Freixe’s capabilities, stating he is the “perfect fit for Nestlé at this time.” He also expressed gratitude for Schneider’s “significant contributions to Nestlé and for his outstanding, steady leadership in turbulent times.”
In his first statement as CEO, Freixe emphasized his commitment to building on Nestlé’s strengths. “I am privileged to have been allowed to continue building and strengthening Nestlé, and I am excited to take on this responsibility,” he said.
He acknowledged the challenges ahead but highlighted the company’s “iconic brands and products” and “exceptional people and teams” as critical assets that will help Nestlé lead and win in the market.
Schneider reflected on his eight years at the helm, stating, “Leading Nestlé for the past eight years has been an honor for me. I am grateful for what we have achieved, having transformed Nestlé into a future-proofed, innovative and sustainable business.”
He expressed his best wishes for Freixe in his new role, indicating a smooth transition in leadership.
In addition to the CEO change, Nestlé has seen other executive team shifts. Last year, Anna Manz was appointed CFO, further signalling a period of transformation within the company’s leadership structure.
Freixe’s appointment comes as Nestlé navigates a rapidly changing food industry landscape marked by increasing consumer demand for personalized nutrition and sustainable practices.
As Freixe steps into his new role, he will be tasked with continuing the momentum Schneider built while addressing the evolving challenges and opportunities in the global market.
As Nestlé prepares for this new chapter, stakeholders keenly observe how Freixe will steer the company toward future growth and innovation while maintaining its commitment to sustainability and consumer satisfaction.
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