Nestlé has announced the retirement of Sanjay Bahadur, executive vice president (EVP) and head of group strategy and business development, effective at the end of December.

He joined the FMCG giant over 40 years ago and worked in various departments globally, including in India, Switzerland, Hong Kong, Türkiye, and China.

During his time at Nestlé, he worked in various positions within the finance department, which include the CFO of the Greater China region.

In his most recent role, Bahadur oversaw the company’s portfolio and managed mergers and acquisitions (M&A) transactions as well as venture funds, external partnerships and licensing agreements.

Following his departure, the M&A team will report to chief financial officer Anna Manz.

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Philipp Navratil, CEO of Nestlé, commented: “On behalf of everyone at the company, I would like to extend a heartfelt thanks to Sanjay for his many contributions to Nestlé.

“He consistently demonstrated uncompromising integrity and a humble approach to leadership, fostering trust and collaboration across the organisation. We wish him all the best for this next chapter.”

The news comes after the FMCG giant made a number of leadership changes in September to its board of directors, with the former chairman stepping down from the role.

Nestlé appointed a new CEO in September, Philipp Navratil, after the previous chief executive was dismissed due to breaching company conduct.