Nestle announced on Thursday that its chief executive, Mark Schneider, will step down after eight years at the helm, with Latin America chief Laurent Freixe set to succeed him. Schneider’s departure as CEO and board member will take effect on September 1.
“Leading Nestle for the past eight years has been an honor. I am proud of what we’ve accomplished in transforming Nestle into a future-oriented, innovative, and sustainable business,” Schneider said in a statement.
Freixe, who joined Nestle in France in 1986, successfully navigated the company’s European operations through the 2008 financial crisis and led the Americas region before taking charge of the newly established Latin America zone in 2022. Under his leadership, the Latin America division has thrived despite challenging conditions.
Nestle also announced that Freixe will be nominated for a position on the board of directors at the company’s 2025 annual general meeting.
Described as a “perfect fit” by the company, Freixe is recognized for his strategic insight, extensive market experience, and deep understanding of both markets and consumers.
Nestle, known for its brands like Nespresso, Purina, and Haagen-Dazs, recently revised its 2024 sales growth forecast downward after slowing price increases in the first half of the year. The company had experienced strong sales growth over the past three years, driven by price hikes to counteract rising costs due to inflation.
The company has also faced criticism, particularly from the Swiss NGO Public Eye, which accused Nestle of selling baby food with high levels of added sugar in low-income countries. Nestle responded by asserting that it maintains consistent nutrition and health standards across all markets.
Additionally, concerns arose over its Perrier brand after France’s food safety authority recommended stricter monitoring at sites where Nestle extracts mineral water due to traces of “faecal” contamination. Nestle has since intensified monitoring efforts, with Schneider assuring that the water remains safe for consumption.
Nestle chairman Paul Bulcke praised Freixe as a “talented leader” with the strategic acumen and market expertise necessary to lead the company into the future.
