Nestlé replaces CEO Mark Schneider with Laurent Freixe, effective September 1

Delhi: Nestlé is replacing CEO Mark Schneider with veteran Laurent Freixe, effective September 1. 

Schneider is stepping down after eight years, during which he shifted the company’s structure and navigated a boom in food and drink sales during the pandemic.

However, Nestlé has recently faced challenges, including a reduced sales outlook and a need to slow price hikes.

Under Schneider, Nestlé’s shares peaked in January 2022 but have since declined. Freixe, who joined Nestlé in 1986 and has led its European and Americas divisions, most recently directed the Latin American business, overseeing notable growth.