Nestle CEO Shakeup: Mark Schneider Steps Down, Veteran Laurent Freixe to Lead From September 2024

After nearly 8 years of service at Nestle, Mark Schneider has stepped down as the CEO of the world’s largest food company. Effective September 1, 2024, Laurent Freixe, a Nestle veteran with almost four decades of experience, will take over as CEO.

In a statement issued by the company, it added, "Mark Schneider, Chief Executive Officer, has decided to relinquish his roles as CEO and member of the Board of Directors. Over his 8 years with the company, he has actively shaped the company’s portfolio, in line with Nestlé’s strategy and with a focus on high-growth categories like coffee, pet care and nutritional health products."

Mark Schneider's Legacy

Mark Schneider, Nestle’s first external CEO in nearly a century, took the position in 2016. His tenure saw the food company embracing high growth in categories such as coffee, pet care, and nutrition-focused products, positioning the brand for long-term sustainability.

"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," Mark Schneider's in a statement.

Laurent Freixe - The New CEO

Laurent Freixe, 62, began his journey at Nestle in France in 1986 and rose through the ranks, taking on various roles across Europe and the Americas.

"Laurent Freixe joined Nestle 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," said the company in a statement.

"He successfully managed Zone Europe during the financial and economic crisis, from 2008 until 2014. He then took over as CEO of Zone Americas, where he accelerated growth. Following the creation of Nestlé’s new Zone structure in 2022, Laurent Freixe was named CEO Zone Latin America, where he has been successfully leading through challenging conditions," said the company in a statement," it said.

Chairman of Nestle's Board of Directors statement

Paul Bulcke, Chairman of Nestle's Board of Directors added, "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."

 "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," said Bulcke.