Laurent Freixe Named Nestlé CEO Following Mark Schneider’s Exit
Nestlé has a new executive at the helm, naming company veteran Laurent Freixe its chief executive officer. He will be taking on the role beginning September 1.
Freixe was previously the company’s EVP and CEO of the Latin America business. He’s been with the company since 1986, rising in rank from director of marketing for various divisions to CEO of the Iberian region to EVP of several zones across the company, including Europe and America. When managing Europe, he helped navigate business operations during the financial and economic crisis of 2008.
On taking the role, Freixe said he will continue building and strengthening Nestlé, tapping into the company’s innovation and execution capabilities. He takes over for Schneider, who has decided to step down after eight years with the company.
Nestlé has recently struggled to recapture sales after a brief bump following Schneider’s category-led company restructuring in the aftermath of COVID. During its last earnings call, the company cut back its full-year outlook to 3% organic sales growth in response to price-conscious consumers requiring more value in the market.
“The general context is that consumers are under pressure, driving higher price elasticity, particularly in the U.S. market,” said Schneider on the investor’s call.
