An image taken on March 4, 2024 exhibits an indication of Swiss meals large Nestle on their Swiss headquarters in La Tour-de-Peilz, close to Vevey. (Photograph by Fabrice COFFRINI / AFP)
Geneva, Switzerland — Nestle chief govt Mark Schneider is leaving the Swiss meals group after eight years in cost and shall be changed by Latin America boss Laurent Freixe, the corporate stated Thursday.
Schneider “has determined to relinquish his roles as CEO and member of the Board of Administrators”, Nestle stated in a press release, including that the transfer can be efficient from September 1.
“Main Nestle for the previous 8 years has been an honor for me. I’m grateful for what we’ve got achieved, having remodeled Nestle right into a future-proofed, revolutionary and sustainable enterprise,” Schneider stated within the assertion.
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Freixe, who joined Nestle in France in 1986, “efficiently 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 earlier than taking on on the newly created Latin America zone in 2022, “the place he has been efficiently main by means of difficult circumstances”.
Nestle stated Freixe has been nominated as a candidate for the board of administrators at its 2025 annual common assembly.
‘Excellent match’
Nestle, whose manufacturers vary from Nespresso espresso capsules to Purina pet food and Haagen-Dazs ice cream, lowered its gross sales progress outlook for 2024 final month because it slowed its value will increase within the first half of the yr.
The worldwide packaged-food large and its rivals had logged excessive gross sales progress up to now three years as they raised costs to make up for greater prices as a consequence of hovering inflation.
The corporate 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.
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Nestle has countered that it had “no double normal” and utilized the identical diet 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 beneficial stricter monitoring of web sites the place Nestle extracts mineral water following the invention of traces of “faecal” contamination.
The corporate has since stated it has stepped up monitoring of the websites, and Schneider has stated the group’s water was secure to drink.
Freixe acknowledged that “there’ll all the time be challenges” however expressed confidence in Nestle’s skill to “lead and win in every single place we function”.
Nestle stated Thursday that Schneider “has actively formed the corporate’s portfolio, in keeping with Nestle’s technique and with a deal with high-growth classes like espresso, pet care and dietary well being merchandise”.
Nestle chairman Paul Bulcke praised Freixe as “a proficient chief with strategic acumen, in depth in-market expertise and experience in addition to a deep understanding of markets and customers”.
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“Laurent is the right match for Nestle right now,” Bulcke added.
