In a significant leadership transition, Nestlé, the Swiss food and beverage giant, has announced that Laurent Freixe will succeed Mark Schneider as CEO. The change, set to take effect on September 1, comes as Nestlé faces challenges in maintaining sales growth and consumer loyalty.
Freixe, a 38-year veteran of the company, brings extensive experience to the role. Having joined Nestlé in 1986, he has held various leadership positions, including managing the European business during the 2008 financial crisis and overseeing significant growth in the Americas and Latin America units.
The outgoing CEO, Mark Schneider, leaves after an eight-year tenure marked by major restructuring efforts and navigating the company through the COVID-19 pandemic. Despite initial success, recent times have seen Nestlé struggling to maintain momentum, with the company recently cutting its full-year sales outlook and slowing price increases due to consumer price sensitivity.
Freixe’s appointment is seen as a move towards stability and growth. In his initial statements, he emphasized a focus on core activities while remaining open to potential mergers and acquisitions. Analysts view Freixe as a “safe pair of hands” and anticipate he may address underperforming areas within the company.
Nestlé Chairman Paul Bulcke expressed confidence in the choice, citing Freixe’s deep understanding of the company and his marketing and sales expertise. As Freixe prepares to take on his new role, the food industry will be watching closely to see how he navigates Nestlé through its current challenges and positions it for future growth.
