Food group
Nestlé share under pressure from CEO of CEO under the expulsion
New boss at Nestlé, but the skepticism remains: After disappointing numbers and chief refuge, the group now wants to score with more speed. Who benefits from this change of power?
After the CEO Laurent Freixe was thrown out at the world’s largest food group Nestlé, the company’s shares are under pressure. At the start of the stock exchange in Zurich, the Nestlé papers temporarily noted up to minus two percent before they recovered slightly.
Freixe (63) was released in office on Monday evening after just one year. As the reason, the group, based in Vevey on Lake Geneva, cited a “romantic relationship” that was not open to an employee directly assumed to him. The Board of Directors saw Freixe’s behavior a violation of the Nestlé behavioral code and internal guidelines, as it was said. Under these circumstances, Freixe is not entitled to a payment payment, as the group confirmed.
Freixe should create new trust
In September 2024, the Frenchman replaced the German business manager and former Fresenius boss Mark Schneider as head of the CEO, who had to go unexpectedly. The board of directors was no longer satisfied with the shops under Schneider. Freixe has been with Nestlé for decades. He should create new trust and advance savings and focus.
However, investors remained skeptical. After disappointing half -year figures with declines in the operational result, the operating result and the profit per share, the share price in July sometimes decreased by three percent.
The Board of Directors Nespresso boss Philipp Navratil, who has been working at Nestlé for 24 years, appointed the new CEO. The committee emphasized that the strategic orientation remains unchanged, but one wanted to increase the pace in growth and efficiency.
Nestlé has around 277,000 employees. According to its own statements, the company sells more than 2,000 brands in 185 countries and has a stock market value of more than 200 billion euros.
dpa
Source: Stern
