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Nestle replaces CEO Schneider with company veteran Freixe

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Nestle,Appointment,Consumer

Fatin Nadzirah Mohd Arsad is one of Malaysia's pioneering female commercial divers, challenging the norms in this male-dominated field.

The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann?

But it has struggled recently, last month cutting its full-year sales outlook and saying it had to slow its price hikes as cash-strapped customers became more price conscious. When asked how his strategy would differ from Schneider's, Freixe told journalists that Nestle, a company with more than 2,000 brands, spanning dog food to water and infant nutrition - would focus on its"core" activities.

The 62-year-old Freixe, a popular figure at Nestle's HQ in Vevey, next to Lake Geneva, has already started work in his new role, but knows it will take time to rebuild market share and increase sales volumes in a tough market.

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