Nestlé appoints Ulf Mark Schneider to CEO

The Board of Directors has decided to propose Paul Bulcke, Nestlé's current CEO, for election as Chairman at the next meeting in April 2017.  

In order to prepare for this future role as active, non-executive Chairman, Mr. Bulcke will resign from his present position as CEO on 31 December 2016. Paul Bulcke was appointed CEO and member of the Board of Directors on 10 April 2008. Bulcke will replace current chairman, Peter Brabeck-Letmathe, who has reached the mandatory age of retirement. Mr. Brabeck-Letmathe has served Nestlé for 50 years, of which 14 years on the Executive Board, eleven years as CEO and twelve years as Chairman.

Mr. Schneider, a German and U.S. citizen, has been CEO of Fresenius Group since 2003. The company, which offers high-quality products and services for dialysis, hospitals and outpatient treatments, has prospered strongly under the leadership of Mr. Schneider over the past 13 years. Today, with over 220,000 employees in more than 100 countries and annual sales of € 28 bn, Fresenius is one of the world's leading diversified healthcare companies. In order to ensure a smooth hand-over phase, Mr. Schneider will join Nestlé on 1 September 2016 for an introductory period.