It seems sudden: Nestlé SA today announced Laurent Freixe, currently an executive vice president and CEO of Zone Latin America (LATAM), will take over as CEO on Sept. 1. Current CEO Mark Schneider “has decided to relinquish his roles as CEO and member of the board of directors,” the company announcement said.
There were no prior hints of a succession at the top of the world’s largest food company.
Freixe joined Nestlé in France in 1986. “Since then, he has continuously progressed within the company, assuming various positions of increasing responsibility across different businesses, markets and zones,” the news release said.
“He successfully managed Zone Europe during the financial and economic crisis, from 2008 until 2014. He then took over as CEO of Zone Americas, where he accelerated growth. Following the creation of Nestlé’s new zone structure in 2022, Laurent Freixe was named CEO Zone Latin America, where he has been successfully leading through challenging conditions.”
Freixe has been a member of the company’s executive board for 16 years. “As such, [he] has played an important role in strengthening the strategic direction of the company and its portfolio. With his profound understanding of Nestlé’s culture and values, he has led several global corporate initiatives to improve productivity, increase operational efficiency, simplify processes and drive innovation.”
Today’s announcement did compliment Schneider. “Over his eight years with the company, he has actively shaped the company’s portfolio, in line with Nestlé’s strategy and with a focus on high-growth categories like coffee, pet care and nutritional health products.”
Chairman Paul Bulcke added, "I would also like to express our gratitude to Mark for his significant contributions to Nestlé and for his outstanding, steady leadership in turbulent times. Mark has been instrumental in the great progress we have made on our sustainability agenda. We extend our best wishes to him in all his professional and personal endeavors."
Bulcke also said of Freixe: “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."
Schneider was quoted too: "Leading Nestlé for the past eight years has been an honor 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."
Freixe also will be nominated as a director at the 2025 annual general meeting.
