(Telestock) – The title slips on the Zurich stock exchange Nestléwhich recorded a decrease of 2.10%, following the news of the CEO Mark Schneider’s surprise resignation. The long-time manager has been appointed to replace him Laurent Freixe, who has a long experience in the Group.
Schneider’s resignation was announced yesterday evening, following the Board of Directors meetingwhich has decided to close the experience of the German manager, who has not produced great results. In recent quarters, in fact, the big company in the food and confectionery sector has lost a lot of ground compared to its large competitors, such as Danone and Unilever, seeing sales stagnate.
For its part, the new CEO Freixe he immediately got to work to recover market share, developing a plan that hinges on Brand enhancement and on the investments, rather than on price increases to chase inflation, as his predecessor did.
“The focus will be on growing the current portfolio”said the manager, adding that “organic growth is fundamental”,