Nestle introduced on Thursday its chief govt, Mark Schneider, is leaving the Swiss meals group after eight years in cost, in a change of management as the corporate faces a problem to develop gross sales.
He will probably be changed by Latin America boss Laurent Freixe, the multinational meals and drinks firm stated in an announcement, including that the transfer could be efficient Sept. 1.
Schneider “has decided to relinquish his roles as CEO and member of the Board of Directors,” the corporate stated.
“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 stated within the assertion.
Freixe, who joined Nestle in France in 1986, “successfully” managed the corporate’s European zone in the course of the 2008 monetary disaster and till 2014, the assertion stated.
He was then named CEO of the Americas area, taking up on the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions.”
Nestle stated Freixe had been nominated as a candidate for the board of administrators at its 2025 annual basic assembly.
‘Perfect match’
Nestle, whose manufacturers vary from Nespresso espresso capsules to Purina pet food and Haagen-Dazs ice cream, lowered its gross sales development outlook for 2024 final month because it slowed its value will increase within the first half of the yr.
The world packaged-food big and its rivals had logged excessive gross sales development up to now three years as they raised costs to make up for larger prices resulting from hovering inflation.
The firm has additionally confronted controversy in recent times, with Swiss NGO Public Eye accusing Nestle of promoting child meals with excessive ranges of added sugar in low-income nations however not in wealthier nations.
Nestle has counted that it had “no double standard” and utilized the identical vitamin and well being ideas in every single place.
It has additionally scrambled to ease any considerations over its Perrier model after France’s meals security watchdog really helpful stricter monitoring of websites the place Nestle extracts mineral water following the invention of traces of “fecal” contamination.
The firm has since stated it has stepped up monitoring of the websites, and Schneider has stated the group’s water was secure to drink.
Nestle stated Thursday that Schneider “has actively shaped the company’s portfolio, in line with Nestle’s strategy and with a focus on high-growth categories like coffee, pet care and nutritional health products.”
Nestle chairperson Paul Bulcke praised Freixe a “a talented leader with strategic acumen, extensive in-market experience and expertise as well as a deep understanding of markets and consumers.”
“Laurent is the perfect fit for Nestle at this time,” Bulcke added.
Source: www.dailysabah.com