Change of leadership
Nestle CEO Mark Schneider steps down
There is a surprising change at the top of the food giant Nestle: CEO Mark Schneider is stepping down after around eight years and leaving the Swiss company completely. Laurent Freixe will take over on September 1.
Freixe is currently in charge of the Latin American business. He is also to be elected to the Nestle Board of Directors in 2025. "He has proven that he is able to deliver results in difficult market conditions," said Chairman of the Board of Directors Paul Bulcke in a statement on Thursday.
Schneider took over as head of Nestle in January 2017. The former head of the medical technology group Fresenius restructured the food manufacturer by selling weaker divisions and acquiring faster-growing ones. "Mark has made a significant contribution to the great progress we have made in our sustainability efforts," Bulcke is convinced.
Sales growth of at least three percent expected
Nestle lowered its outlook at the end of July and now expects sales growth of at least three percent (instead of four percent) for the full year 2024. Consumers are increasingly looking at prices and there is intense competition between retailers, Schneider said at the time. Temporary price reductions should boost demand for the products again.
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