Nestlé SA announced on June 27 that Ulf Mark Schneider will be its next chief executive officer. The 50-year-old US-German dual citizen, who currently heads up the Bad Homburg, Germany-headquartered Fresenius healthcare group, will replace present CEO Paul Bulcke on January 1. In order to ensure a smooth hand-over phase, Schneider will join Nestlé on September 1 for an introductory period.
Ulf Mark Schneider will take the helm as chief executive officer of Nestlé SA on January 1.Bulcke is scheduled to become chairman of the Vevey, Switzerland-headquartered diversified food and beverage giant on April 6, 2017, after 71-year-old Peter Brabeck-Letmathe steps down upon reaching the mandatory age of retirement. He has been employed by Nestlé for 50 years, serving 14 years on the executive board, 11 years as ceo, and 12 years as chairman.
In order to prepare for this future role as active, non-executive chairman and respect a minimum cooling-off period, Bulcke will resign from his present position as ceo on December 31.
Schneider has been ceo of the Fresenius Group since 2003. The company, which provides high-quality products and services for dialysis, hospitals and outpatient treatments, has prospered strongly under his leadership. Today, with over 220,000 employees in more than 100 countries and annual sales €28 billion, it ranks as one of the world’s leading diversified healthcare companies.
Long-standing Nestlé CEO Paul Bulcke is scheduled to succeed Peter Brabeck-Letmathe as chairman in April.“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 Chairman Brabeck-Letmathe.
Ranked as the largest food company in the world measured by revenues, Nestlé generated turnover of CHF 88.8 billion (including non-food sales) and net profit of CHF 9.1 billion in 2015. Its frozen food product line includes ready meals and side dishes as well as ice cream.
