Nestle appoints new CEO

Nestle’s board of directors appoints Laurent Freixe, currently executive VP and CEO of Zone Latin America (LATAM), as the company’s CEO, effective September 1.

“I am excited to take on this responsibility. There will always be challenges, but we have unparalleled strengths, such as iconic brands and products, an unmatched global presence, leading innovation and execution capabilities, and above all, exceptional people and teams,” Freixe said.

The board also nominated Freixe as a directorial candidate, which will be determined at the company’s 2025 annual general meeting. Freixe joined Nestle in France in 1986 and has been a member of the executive board for 16 years.

Paul Bulcke, board chair, said, “The board of directors is delighted to announce the appointment of Laurent as the new CEO. I have known Laurent for a long time and highly regard him as a talented leader with strategic acumen, extensive in-market experience and expertise as well as a deep understanding of markets and consumers.”

Mark Schneider has decided to relinquish his roles as company CEO and member of the board. “Leading Nestle for the past eight years has been an honour for me. I am grateful for what we have achieved, having transformed Nestle into a future-proofed, innovative and sustainable business,” Schneider said.

“I would also like to express our gratitude to Mark for his significant contributions to Nestle and for his outstanding, steady leadership in turbulent times. Mark has been instrumental in the great progress we have made on our sustainability agenda. We extend our best wishes to him in all his professional and personal endeavours,” Bulcke said.