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Nestle replaces CEO Mark Schneider with company veteran Laurent Freixe

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Nestle News

Freixe,Focus,Cent

Schneider has decided to step down as CEO and a member of the board of directors after eight years leading the world’s biggest packaged food company

Nestle is replacing CEO Mark Schneider with company veteran Laurent Freixe, the Swiss food group said on Thursday, marking a change of leadership as it faces a challenge to grow sales.

Shares at the maker of KitKat chocolate bars and Nescafe instant coffee have fallen 8 per cent in 2024, underperforming rivals like Unilever which has gained 29 per cent. “I will put a lot of focus on the core. I won’t exclude, of course, M&A,” Freixe said. “But...the big message is focus on the core.”Since then, he has assumed various positions including managing Nestle’s European business during the 2008 financial crisis. He then headed Nestle’s Americas unit and, eventually led the Latin America business from 2022.

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