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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.
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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.
In today's world of uncertainties and the global economy, it is crucial to diversify one's investments because otherwise, the risks are rising. One outstanding way to diversify that comes to mind is to invest in international dividend aristocrats.
Nestle stock has fallen over 6% and almost 30% from 2021 highs despite strong recent RIG and potential for increased margins and Earnings growth. Recent positive RIG, gross profit margin growth, and lower interest rates suggest potential for higher PE multiples and stock recovery. Debt increase and macroeconomic instability pose risks, but future valuation and potential for capital appreciation make Nestle a good buy.