Food giant Nestlé has announced the appointment of Laurent Freixe [pictured] as its new CEO, effective 1 September 2024.
Currently, he serves as executive vice president and CEO of the Latin American zone, the company added.
Freixe succeeds Mark Schneider, who has decided to step down from the role and Nestlé's board after eight years at the helm.
Schneider was instrumental in shaping the company’s portfolio in line with its strategy and focus on high-growth categories like coffee, pet care and nutritional health products.
Commenting on his departure, Schneider said, "Leading Nestlé for the past eight 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."
Laurent Freixe
Freixe is an experienced professional who joined the company in 1986 and worked his way up to assume positions of increasing responsibility across different businesses, markets and zones.
He steered Zone Europe during the financial and economic crisis between 2008 to 2014.
He then moved on to the role of CEO of Zone Americas, where he was responsible for accelerating the company's growth.
Following the creation of Nestlé’s new Zone structure in 2022, Laurent Freixe was named CEO of Zone Latin America, where he has been managing challenging conditions.
'A Talented Leader'
Paul Bulcke, chair of the board of directors at Nestlé, stated, "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."
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Freixe has been a member of Nestlé's executive board for 16 years and has played an important role in strengthening the strategic direction of the company and its portfolio, the company noted.
He has led several global corporate initiatives to improve productivity, increase operational efficiency, simplify processes, and drive innovation.
Freixe added, "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."
