Ulf Mark Schneider, the current chief executive of medical supplier Fresenius Group has been named as the successor to Paul Bulcke as chief executive of Nestlé, commencing 1 January 2017.
Nestlé announced that Schneider will join Nestlé on 1 September for an introductory period, in order to ensure a smooth hand-over phase.
Bulcke, who steps down from the role of chief executive on 31 December, will remain with Nestlé as the company's chairman.
“With the proposed appointment of Paul Bulcke as Chairman of the Board and Ulf Mark Schneider as CEO, the Board has increased the company’s capabilities to accelerate Nestlé’s journey to become the world’s preeminent player in the Nutrition, Health and Wellness sector," said current Nestlé chairman Peter Brabeck-Letmathe.
"Together with our excellent executive team, Nestlé is well prepared to face the increasingly difficult external environment and deliver on both its long-term and short-term performance goals.”
Brabeck-Letmathe will step down from Nestlé at the group's next AGM, next April.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.