Nestle Chair says CEO change was prompted by growth concerns

The abrupt replacement of Nestle SA’s chief executive officer was prompted by worries over the food and beverage company’s growth outlook, Nestlé Chair Paul Bulcke told Swiss newspaper Le Temps. + Get the most important news from Switzerland in your inbox “We looked at the market share development and asked ourselves whether the group’s growth engine and operational execution were still working perfectly,” Bulcke said in an interview published on Saturday. “There were difficult times with Covid, geopolitical issues, inflation. We had to act quickly.” + Nestlé appoints Laurent Freixe as new boss Vevey, Switzerland, based Nestle, maker of products from bottled water and coffee to ice cream to pet food, announced on Thursday that Mark Schneider would make way after eight years as CEO for company veteran Laurent Freixe, after the firm’s recent performance raised questions over profitability targets. + Nestlé CEO Schneider was ousted, paving way for veteran Freixe, sources say Bulcke ...