Nestlé announces Laurent Freixe to take over as new CEO
Date
8/25/2024 4:31:53 AM
(MENAFN) On Friday, Nestlé, the world's largest food company, announced that Laurent Freixe will be taking over as the new CEO, succeeding Mark Schneider. Freixe, who has been with Nestlé since 1986, previously held the position of executive vice president and CEO for Latin America. His extensive experience with the company, having served in various senior roles, positions him as a seasoned leader ready to steer Nestlé through its next phase. Freixe’s appointment is a significant shift in leadership, and he will also be nominated for a position on the Board of Directors at the 2025 Annual General Meeting.
Mark Schneider, who has led Nestlé for the past eight years, has decided to step down from his role as CEO. Schneider’s departure comes at a time when the company is facing some financial adjustments. Nestlé recently revised its full-year sales outlook, citing slower price increases and heightened price sensitivity among consumers as key factors in the change. This shift in leadership reflects Nestlé’s need to address these evolving market conditions and realign its strategies accordingly.
The leadership change at Nestlé is significant, particularly in light of the company's recent performance. Over the course of 2024, Nestlé’s share price has experienced a decline of more than 10 percent, reflecting broader challenges in the market. The company’s revision of its sales outlook and the appointment of a new CEO are part of its efforts to navigate these difficulties and adjust to the current economic landscape.
Laurent Freixe’s appointment is expected to bring a fresh perspective to Nestlé’s executive team. His deep understanding of the company, combined with his experience in leading the Latin American division, will likely influence the company's approach to overcoming its recent challenges. As Nestlé looks to stabilize and grow, Freixe's leadership will be crucial in guiding the company through these transitional times and positioning it for future success.
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