Nestlé announced a leadership change, with Mark Schneider to exit as CEO and Laurent Freixe to become the new CEO.
Nestle’s (OTCMKTS:NSRGY) ADR shares, on the OTC market in the US, advanced more than 5% after the announcement of a leadership reshuffle – which sees the exit of chief executive Mark Schneider by 1 September.
Schneider departs after eight years at the confectionary giant, and he will be succeeded by Laurent Freixe.
The new boss steps up having run Nestle’s operations in Latin America.
It comes after Nestlé has been struggling with slowing sales and a declining share price, which is down nearly 10% for the year to date.
Some analyst comments featuring in media coverage cite Freixe’s deep experience within the company and say he’s well-suited to address current challenges, while others express caution, noting the potential need for further strategic adjustments.
