Nestlé appoints Laurent Freixe as CEO as Mark Schneider steps down

23 Aug 2024 --- Nestlé has appointed company veteran Laurent Freixe as CEO, replacing Mark Schneider, who has relinquished his roles as CEO and member of the Board of Directors, effective September 1.

Freixe, who joined the company in 1986, is currently executive vice president and CEO of zone Latin America, a role he took on in 2022. The official announcement notes his multiple roles across different business functions, markets and zones over the years, including managing Zone Europe during the financial crisis from 2008 to 2014.

Strengthening sustainability agenda

Paul Bulcke, chairman of the Board of Directors, considers Freixe “the perfect fit” for the F&B giant. “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 change. Under his leadership, Nestlé will further strengthen its position as a dependable, reliable company through consistent and sustainable value creation.”

Freixe views this as an opportunity to “continue building and strengthening Nestlé.”

“There will always be challenges, but we have unparalleled strengths, such as iconic brands and products, an unmatched global presence, innovation and execution capabilities, and above all, exceptional people and teams. We can strategically position Nestlé to lead and win everywhere we operate,” he shares.

Outgoing CEO Schneider, who has been with the company for eight years, says: “I am grateful for what we have achieved, having transformed Nestlé into a future-proofed, innovative and sustainable business.”

Nestlé recently released its first half-year results for 2024.Bulcke acknowledges Schneider’s contributions to the company, including “outstanding, steady leadership” in challenging times. “Mark has been instrumental in the progress we have made on our sustainability agenda.”

His departure and Freixe’s promotion restore Nestlé’s usual practice of appointing chief executives from within the organization. Schenider was the F&B player’s first external CEO in nearly a century, having previously headed German healthcare company Fresenius.

Freixe has been an Executive Board member for 16 years and has headed several global corporate initiatives to enhance the company’s productivity and operational efficiency, simplify internal processes and improve innovation.

He is also involved in Nestlé’s Leadership and Training Programs and the Nestlé Needs Youth initiative, which promotes employment opportunities among youth.

2024 outlook

Meanwhile, the Swiss multinational recently released its first half-year results for 2024, lowering its organic sales growth outlook from 4% to 3% after pricing decreased quicker than expected.

While the company also reported organic growth — driven by Europe and emerging markets — of 2.1%, with positive real internal growth of 0.1% for the first half of the year and 2.2% for the second quarter, it shared that it is important to be cautious as consumers become increasingly cost-conscious.

Coffee was the largest organic growth contributor, with mid-single-digit growth supported by its three leading global brands: Nescafé, Nespresso and Starbucks.