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Nestle's plans under new CEO Laurent Freixe to restructure and sharpen its focus on its top brands were welcomed by investors, but executing a turnaround strategy against a backdrop of weak consumer demand will be a tough task.

Nestlé: 2024 Guidance Cut, But Still A Buy

Nestle S.A. (OTC:NSRGF, VTX:NESN) on Thursday cut its full-year sales guidance and signalled structural changes as demand woes continue to plague the KitKat maker.

ETW: Foreign Currency Exposure Proves Beneficial For This High-Yielding CEF

Mark Schneider, Nestle's recently ousted CEO, steered the world's biggest food maker through the COVID-19 pandemic, grew margins despite a subsequent supply chain crunch, and pulled off a historic reorganisation.

Jon Cox, head of European consumer equities at Kepler Cheuvreux, discusses Mark Schneider's decision to step down as Nestle CEO.

Nestle intends to keep its Health Science unit, Chairman Paul Bulcke said in a newspaper interview published on Sunday, after the food giant announced it was replacing its CEO Mark Schneider with company veteran Laurent Freixe.

Nestle CEO Mark Schneider was ousted in a sudden move by the world's biggest foodmaker as a result of the group's underperformance, three sources familiar with the matter told Reuters on Friday.

Nestle CEO Mark Schneider is the latest consumer-goods boss to be shown the door as companies struggle to coax shoppers back to premium brands after a period of high inflation and belt-tightening. After eight years as CEO of the Swiss maker of Nespresso coffee and Purina pet foods, Schneider will be replaced by Latin America chief Laurent Freixe, Nestle said late Thursday.

Nestle S.A. (OTC:NSRGF, VTX:NESN) chief executive Mark Schneider is to step down and be replaced by company veteran Laurent Freixe after eight years at the helm of the consumer goods giant.