Freixe Takes Over: New CEO to Focus on Organic Growth to Regain Market Share and Push Nestlé Shares Higher

After CEO Mark Schneider abruptly left the largest food firm in the world and was replaced by corporate veteran Laurent Freixe, Nestle shares fell sharply early on Friday. The 58-year-old German, who had been leading Nestle for almost eight years, abruptly left the business late on Thursday. Schneider was the first outsider to manage the company in almost a century. The announcement came about through a board meeting.

Nestlé’s New CEO Freixe Vows to Regain Market Share Amid Investor Concerns

Shares of the company that makes KitKat chocolate bars and Nescafe instant coffee fell by over 4% as soon as trading began, alarming investors whose faith in Schneider had been eroding during the previous fifteen months. With the responsibility of regaining market share and boosting sales volumes in a competitive market, 62-year-old Frenchman Freixe has already begun his work in his new position. The new CEO of Nestle promised right away to put more emphasis on organic growth than acquisitions, as the company has lagged behind competitors like Unilever and Danone in recent quarters.

We want to gain market share, and that comes back to investing in our brands. That comes back to investing in our growth platforms. The focus will be on driving the current portfolio. Primarily organic growth is of the essence. On the portfolio there might be of course adjustment, but again top priority is absolutely organic growth.

Freixe

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