Nestlé is undergoing a significant leadership change as CEO Mark Schneider steps down, replaced by company veteran Laurent Freixe. This transition reflects the company’s response to recent challenges, including struggles with sales growth and adapting to a shifting market landscape.
Mark Schneider has decided to relinquish his role as CEO and member of the Board of Directors after eight years leading Nestlé. He will be succeeded by Laurent Freixe, who has been associated with the company since 1986 and held various executive positions, including CEO of Zone Latin America138.
Nestlé has faced difficulties recently, mainly affected by the cost of living crisis, which has pressured consumer spending. As a result, the company recently cut its full-year sales outlook and had to slow down price hikes due to consumers becoming more price-conscious124. Shares in Nestlé have also fallen by 8% in 2024, underperforming compared to competitors like Unilever, which has seen a 29% gain13.
Freixe’s appointment is seen as a return to Nestlé’s usual practice of promoting executives from within the company. He brings a wealth of experience and knowledge about the company’s operations and market dynamics, aiming to refocus efforts on core brands.
Freixe’s appointment is seen as a return to Nestlé’s usual practice of promoting executives from within the company. He brings a wealth of experience and knowledge about the company’s operations and market dynamics, aiming to refocus efforts on core brands138. His leadership strategy is expected to emphasize innovation and sustainable practices to help strengthen Nestlé’s position in the competitive market