Nestle replaces CEO Mark Schneider with company veteran Laurent Freixe

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Nestle replaces CEO Mark Schneider with company veteran Laurent Freixe - Business Standard

Quick Summary:

Freixe, whose new role will be effective on Sept.1, joined the company in France in 1986.

The 58-year-old German moved the firm away from its decades-old category-led structure in the wake of the COVID-19 pandemic, creating five geographic businesses to steer it through a cost-of-living crisis.

Schneider has decided to step down as CEO and a member of the board of directors after eight years leading the world's biggest packaged food company.