Nestlé CEO resigns, Freixe takes over

Investing.com08-23

Investing.com -- Nestlé (SIX:NESN) said on Thursday that Mark Schneider has resigned as CEO with Laurent Freixe set to take over beginning September 1. Due to this unexpected change, analysts reassess...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2461537026?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-23 15:05","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2461537026","market":"us","top_or_hot":-1,"title":"Nestlé CEO resigns, Freixe takes over","media":"Investing.com","content":"<div>\n<p>Investing.com -- Nestlé (SIX:NESN) said on Thursday that Mark Schneider has resigned as CEO with Laurent Freixe set to take over beginning September 1.\nDue to this unexpected change, analysts reassess...</p>\n\n<a href=\"https://finance.yahoo.com/news/nestl-ceo-resigns-freixe-takes-070506221.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nestlé CEO resigns, Freixe takes over</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNestlé CEO resigns, Freixe takes over\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-23 15:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nestl-ceo-resigns-freixe-takes-070506221.html><strong>Investing.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investing.com -- Nestlé (SIX:NESN) said on Thursday that Mark Schneider has resigned as CEO with Laurent Freixe set to take over beginning September 1.\nDue to this unexpected change, analysts reassess...</p>\n\n<a href=\"https://finance.yahoo.com/news/nestl-ceo-resigns-freixe-takes-070506221.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0267386448.USD","symbol_name":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/nestl-ceo-resigns-freixe-takes-070506221.html","article_id":"2461537026","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461537026","pubTimestamp":1724396706,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com -- Nestlé  said on Thursday that Mark Schneider has resigned as CEO with Laurent Freixe set to take over beginning September 1.Due to this unexpected change, analysts reassess the company's strategic direction and financial performance.Mark Schneider’s departure as CEO after an eight-year tenure, during which he guided the Swiss consumer goods giant through substantial transformations, marks a pivotal moment for the company.Analysts across the board, including those from JP Morgan and UBS Global Research, flag that while Schneider's tenure had its successes, recent performance issues likely accelerated his exit.Over the last year, Nestlé's shares have underperformed, declining by 30% since January 2022, a stark contrast to the 22% outperformance during the initial years of Schneider’s leadership.Nestlé’s current guidance for organic sales growth has been set at \"at least 3%\" for the full year, with Visible Alpha consensus estimating around 3.1%.The new CEO may prioritize ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4588":"碎股","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1548497426.USD":"安联环球人工智能AT Acc","LU0971096721.USD":"富达环球金融服务 A","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4118":"综合性资本市场","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","UBS":"瑞银","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1829250122.USD":"高盛欧洲核心股票组合Acc","BK4581":"高盛持仓","BK4504":"桥水持仓","NSLYF":"Nestle Malaysia BHD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4127":"投资银行业与经纪业","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","IE0034235071.USD":"PINEBRIDGE EUROPE RESEARCH ENHANCED EQUITY \"A\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC"},"translate_title":"雀巢CEO辞职Freixe接任","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UBS":0.9,"NSLYF":0.9},"content_text":"Investing.com -- Nestlé (SIX:NESN) said on Thursday that Mark Schneider has resigned as CEO with Laurent Freixe set to take over beginning September 1.\nDue to this unexpected change, analysts reassess the company's strategic direction and financial performance.\nMark Schneider’s departure as CEO after an eight-year tenure, during which he guided the Swiss consumer goods giant  through substantial transformations, marks a pivotal moment for the company.\nAnalysts across the board, including those from JP Morgan and UBS Global Research, flag that while Schneider's tenure had its successes, recent performance issues likely accelerated his exit. \nOver the last year, Nestlé's shares have underperformed, declining by 30% since January 2022, a stark contrast to the 22% outperformance during the initial years of Schneider’s leadership.\nLaurent Freixe, who has been with Nestlé and most recently led the LatAm region, is expected to bring stability and a deep understanding of the company’s operations. \nHowever, his appointment raises questions about the strategic shifts that might ensue and whether his leadership will mark a return to more traditional Nestlé values, as suggested by UBS and Jefferies analysts.\nNestlé’s current guidance for organic sales growth has been set at \"at least 3%\" for the full year, with Visible Alpha consensus estimating around 3.1%. \nAnalysts from RBC Capital Markets and UBS question whether Freixe might consider lowering this mid-single-digit OSG target, given the company’s recent struggles. \nBoth UBS and Jefferies suggest that Nestlé may realistically position itself within a 3.5-4.5% growth range, which, while more conservative, could provide a more achievable target under the new leadership.\nThe company's guidance for achieving an EBIT margin of 17.5%-18.5% by 2025 is another focal point of scrutiny. \nUBS and Jefferies analysts believe this target is feasible but caution that it could be constraining, especially given the current economic pressures. \nRBC echoes this sentiment, advising that Freixe should set expectations lower early in his tenure to create room for exceeding targets later on.\nJP Morgan and RBC analysts emphasize that the leadership change may be a response to recent operational challenges.\nCurrent guidance includes a modest increase in the underlying trading operating margin, but analysts expect further clarification during the upcoming Capital Markets Day. \nThe general sentiment is that Freixe might need to reassess short-term goals to stabilize the company’s trajectory.\nUBS and Jefferies highlight the importance of whether Freixe will pursue a strategic reset, particularly in light of Nestlé’s underperformance relative to competitors. \nWhile Schneider's leadership focused on innovation and expanding into new markets such as Vitamins and Minerals, this direction may be reevaluated under Freixe. \nThe new CEO may prioritize reinforcing core categories like Coffee, Petcare, and Nutrition, while potentially scaling back on less successful ventures.\nNestlé’s stock was trading at CHF 89.44, with analysts from RBC maintaining a \"sector Perform\" rating and setting a price target of CHF 96.00, reflecting a modest upside. \nJP Morgan, UBS, and Jefferies have all acknowledged that while Freixe’s deep experience is a positive, the near-term volatility and strategic uncertainty warrant a conservative approach to the stock.\nRelated Articles\nNestlé CEO resigns, Freixe takes over\nNestle shares face pressure following abrupt departure of CEO\nAustralian regulator hikes ANZ's capital add-on, citing bond scandal","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461537026"}