Nestle CEO Mark Schneider was ousted as a result of the company’s underperformance, three sources familiar with the matter told Reuters, John Revill and Richa Naidu report. The company announced Schneider’s departure on Thursday following a board meeting and appointed Laurent Freixe as its new CEO. Nestle didn’t provide details on Thursday beyond comments made on an investor call, where Chairman Paul Bulcke said the board together with Schneider had assessed the current environment and together had agreed to make the change.
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