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“We are grateful for what we have achieved as we transform Nestlé into a future-proof, innovative and sustainable business,” said Marc Schneider | Photo credit: AFP
Nestle Chief Executive Officer Marc Schneider is leaving the Swiss food group after an eight-year tenure and will be replaced by Latin America boss Laurent Freix, the company said on Thursday (August 22, 2024).
Nestle said in a statement that Mr Schneider “has decided to step down from his roles as CEO and member of the board of directors”, adding that the move would be effective from September 1, 2024.
“It has been an honor to lead Nestlé for the past eight years. I am grateful for what we have achieved as we have transformed Nestlé into a future-ready, innovative and sustainable business,” Mr. Schneider said in the statement.
Mr Freix, who joined Nestle in France in 1986, “successfully managed” the company’s European region during the financial crisis of 2008 and until 2014, the statement said.
He was then named CEO of the Americas region before taking charge of the newly created Latin America region in 2022, “where he is successfully leading under challenging circumstances”.
Nestlé said Mr Freikes has been nominated as a candidate for the board of directors at the 2025 annual general meeting.
‘perfect fit’
Nestle, whose brands range from Nespresso coffee capsules to Purina dog food and Haagen-Dazs ice cream, last month lowered its sales growth forecast for 2024, as it slowed its price increases in the first half of the year.
The global packaged-food giant and its rivals had posted high sales growth over the past three years as they raised prices to offset increased costs due to rising inflation.
The company has also faced controversies in recent years. Swiss NGO Public Eye accuses Nestlé of selling infant food with high amounts of added sugar in low-income countries But this is not the case in rich countries.
Nestle has The reply said there were “no double standards” and that uniform nutrition was applied And health principles should be followed everywhere.
France’s food safety regulator has recommended tighter monitoring at locations where Nestlé produces mineral water after traces of “faecal” contamination were found, prompting the company to take steps to alleviate any concerns over its Perrier brand.
The company has said it has increased monitoring of the sites, and Schneider said the group’s water is safe to drink.
Mr Freikes acknowledged there would “always be challenges” but expressed confidence in Nestlé’s “ability to lead and win wherever we operate”.
Nestle said on Thursday (August 22, 2024) that Mr Schneider has “actively shaped the company’s portfolio in line with Nestlé’s strategy and focusing on high-growth categories such as coffee, pet care and nutritional health products”.
Nestlé Chairman Paul Bulcke praised Mr. Freikes, calling him “a talented leader with strategic skills, extensive market experience and expertise, as well as a deep understanding of markets and consumers.”
“Laurent is a perfect fit for Nestlé at this time,” Mr Bulcke said.
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