Nestle CEO Schneider was ousted, paving way for veteran Freixe, sources say

Nestle's CEO Mark Schneider was ousted due to the company's underperformance. Veteran Laurent Freixe has been appointed as the new CEO. The sudden change was announced after a board meeting, signaling an unplanned transition. Schneider, the first outsider to lead Nestle in nearly a century, had expected to stay longer.