Nestlé CEO Mark Schneider makes shock decision to step down, as Laurent Freixe named successor
Mark Schneider of Nestle, has made a decision to step down as CEO. Pic: Nestle
Mark Schneider, CEO of Nestlé has made a shock decision to stand down from his role after eight years, with the company naming Laurent Freixe, its executive vice president of its Latin American business, as his successor, reports Neill Barston.
In a parting message, the outgoing leader of the Swiss-headquartered global food and drink giant, said it had ‘been an honour to lead the business’ during a time of key transformation to its operations.
He did not divulge any further reason for his decision, with the board of directors making a swift decision on its new postholder, which will become effective from 1 September. Freixe (below) will also become candidate for the Board of Directors at the 2025 Annual General Meeting.
During the outgoing CEO’s time in his role, the company had seen an increasing focus on nutrition-based products, and other key revenue generating markets including coffee, pet care and wider healthcare.
The largest confectionery sector deal under Schneider came with the 2018 sale of its confectionery sector interests in the US to Ferrero, valued at $2.8 billion, though its European sweets and snacks markets, including its UK division including its flagship KitKat brand have continued to deliver a strong range of innovation.
Mark Schneider said: “Leading Nestlé for the past 8 years has been an honour for me. I am grateful for what we have achieved, having transformed Nestlé into a future-proofed, innovative and sustainable business. I would like to thank the entire Nestlé community for what we have accomplished together and wish Laurent all the best in his new role.”
New appointment
For his part, Laurent Freixe joined Nestlé in France in 1986. Since then, he has continuously progressed within the company, assuming various positions of increasing responsibility across different businesses, markets and Zones. He managed Zone Europe during the financial and economic crisis, from 2008 until 2014.
As the company noted, from there, he then took over as CEO of Zone Americas, where he accelerated growth. Following the creation of Nestlé’s new Zone structure in 2022, He was named CEO Zone Latin America, where he has been successfully leading through challenging conditions.
Laurent Freixe has been a member of the Executive Board for 16 years and, as such, has played an important role in strengthening the strategic direction of the company and its portfolio. With his profound understanding of Nestlé’s culture and values, he has led several global corporate initiatives to improve productivity, increase operational efficiency, simplify processes and drive innovation. Additionally, Laurent Freixe is committed to developing future leaders and talents, as evidenced by his active role in the Nestlé Leadership and Training Programs as well as the Nestlé Needs YOUth initiative, which promotes youth employment.
Paul Bulcke, Chairman of the Board of Directors, commented: “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.
“He has demonstrated his ability to deliver results in challenging market conditions. Laurent’s curiosity fuels his passion for innovation and positive change. Laurent is the perfect fit for Nestlé at this time. Under his leadership, Nestlé will further strengthen its position as a dependable, reliable company through consistent and sustainable value creation.”
“I would also like to express our gratitude to Mark for his significant contributions to Nestlé 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.”
Speaking on his appointment Laurent Freixe believed that the business had a strong future ahead, and welcomed the opportunity to take on a global leadership role.
He commented: “I am privileged to have been given the opportunity to continue building and strengthening Nestlé, and 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. We can strategically position Nestlé to lead and win everywhere we operate.”
