Nestlé has appointed Richard Watson as its new CEO for UK & Ireland, as former chief executive Stefano Agostini moves to a new role after six years in the top position.
Richard Watson is the current managing director for Nestlé Confectionery in the UK & Ireland, and is now becoming CEO of the iconic confectionary brand in his 27th year at the company.
Agostini will become the new Head of Confectionery for Nestlé’s Zone Europe – both changes are set to take effect on 1 March 2023.
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Richard Watson has spent the last six years heading up Nestlé UK & Ireland’s Confectionery division where he has built a team that has driven growth, increased market share and pioneered a number of significant innovations in the category.
“I am honoured and incredibly excited to be taking on such an important role at such an important time,” Richard Watson said.
“I first joined Nestlé Purina in the UK in 1996 and have been lucky enough to build a career here over the last quarter of a century. This is one of Nestlé’s biggest markets and, from experience, I know it’s a great place to do business, to innovate, to grow and to work with very talented people.”
Watson added: “I would like to thank Stefano for his leadership in the last six years and wish him well in his new role. I am really looking forward to getting started and leading this brilliant team into its exciting next phase.”
Stefano Agostini joined Nestlé in 1989 and became CEO of Nestlé UK and Ireland in 2017. He set ambitious targets for growth and led the business to a turnover of more than £3 billion during a period of substantial global change.
Agostini said: “It has been a pleasure and a privilege to lead this great business in the UK and Ireland. I am proud of the many things that we have achieved as a team, the way we have risen to challenges and moved our business forward.
I am excited about the challenge ahead, leading our Confectionery business across Europe, and I wish Richard all the very best as he steps into a role that I have truly enjoyed for the last six years.”
The news comes as Kit Kat owner Nestlé has increased its annual organic sales growth as it looks to “explore strategic options” for its peanut allergy treatment.
