VEVEY, Switzerland – Nestlé S.A. announced on June 27, the appointment of Ulf Mark Schneider as its new CEO effective Jan. 1, 2017. Nestlé will also propose Schneider for election to the board of directors at the company’s 2017 annual meeting.
Schneider’s appointment comes as a result of current CEO Paul Bulcke’s announced resignation effective Dec. 31, 2016, to respect a minimum cooling off period before the board of directors propose him for election to chairman at the annual general meeting. Bulcke will replace current chairman, Peter Brabeck-Letmathe, who has reached the mandatory age of retirement.
“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,” Brabeck-Letmathe said in a statement. “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.”
Schneider, who is 50 years old, is a German and US citizen, and holds graduate and doctoral degrees from the Univ. of St. Gallen in Switzerland, and an MBA from Harvard Business School. He has been CEO of Germany-based Fresenius Group, a company providing products and services for dialysis, hospitals and outpatient treatments, since 2003.
“I am honored and excited to have the opportunity to join Nestlé. This is a truly iconic global company with a proud heritage and tremendous future prospects,” Schneider said. “With consumers around the world taking a deeper interest in their personal health and wellbeing, Nestlé’s industry-leading global food and beverage business positions it well for advancing the vision of Nutrition, Health and Wellness. I very much look forward to working with the Nestlé team and all Nestlé stakeholders as we continue to pursue this vision.”
Schneider will join Nestlé on Sept. 1, 2016, for an introductory period to ensure a smooth transition into the new role.