GENEVA, Switzerland — Nestlé Chief Executive Mark Schneider is leaving the Swiss food group after eight years in charge and will be replaced by Latin America boss Laurent Freixe, the company said on Thursday.
GENEVA, Switzerland — Nestlé Chief Executive Mark Schneider is leaving the Swiss food group after eight years in charge and will be replaced by Latin America boss Laurent Freixe, the company said on Thursday. Schneider 'has decided to relinquish his roles as CEO and member of the Board of Directors,' Nestlé said in a statement, adding that the move would be effective from September 1.'Leading Nestlé for the past eight years has been an honor for me.
The global packaged-food giant and its rivals had logged high sales growth in the past three years as they raised prices to make up for higher costs due to soaring inflation.The company has also faced controversy in recent years, with Swiss nongovernmental organization Public Eye accusing Nestlé of selling baby food with high levels of added sugar in low-income countries but not in wealthier nations.
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