Nestlé has named a company veteran as its new CEO as Mark Schneider steps down after eight years with the FMCG giant.

During his time at the Aero and KitKat owner, Schneider shaped the company’s portfolio in line with its strategy, focusing on high-growth categories such as coffee, pet care and nutritional health products.

Commenting on his departure, Schneider said: “Leading Nestlé for the past eight years has been an honour for me. I am grateful for what we have achieved, having transformed Nestlé into a future-proofed, innovative and sustainable business.”

The board of directors has appointed executive vice president and CEO of the businesses Latin America zone Laurent Freixe as its new chief executive, who will start next month.

Freixe first joined the food and drink conglomerate in France back in 1986 and has since progressed within the company in various positions.

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He managed Nestlé’s Europe operations during the financial and economic crisis, from 2008 to 2014, before taking over as CEO of the Americas zone, where he accelerated growth.

Following the creation of the food manufacturer’s new zone structure in 2022, Freixe was named CEO of the Latin America division.

Nestlé chairman of the board of directors Paul Bulcke said: “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.”

Speaking of Schneider’s departure, Bulcke continued: “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.”

Freixe added: “I am privileged to have been given the opportunity to continue building and strengthening Nestlé, and I am excited to take on this responsibility.

“There will always be challenges, but we have unparalleled strengths, such as iconic brands and products, an unmatched global presence, leading innovation and execution capabilities, and above all, exceptional people and teams. We can strategically position Nestlé to lead and win everywhere we operate.”