Nestle Replaces CEO Mark Schneider with Laurent Freixe

Nestlé has announced the replacement of CEO Mark Schneider with veteran Laurent Freixe, effective September 1. Schneider, who has led the company for eight years, faced pressure from investors due to a series of disappointing earnings and stock performance, leading to a near 10% drop in shares this year. Analyst Jon Cox noted that many investors might welcome this leadership change as a necessary shake-up, with confidence in Schneider having been severely impacted. Freixe, who joined Nestlé in 1986, is expected to strengthen the company's position amid inflationary pressures and shifting consumer preferences. The company has struggled to maintain market share as consumers move away from branded products. Chairman Paul Bulcke expressed confidence in Freixe's ability to drive sustainable value creation for Nestlé.