Ulf Mark Schneider, the former chief executive of Fresenius, joined Nestle on January 1. He replaced Paul Bulcke, as announced in June, 2016.
On January 1, 2017, the Swiss food Conglomerate – Nestle welcomed the new CEO onboard. Ulf Mark Schneider is the first outsider CEO appointed by Nestle in around a century. The last time the company hired an outsider for the CEO slot was in 1922. Schneider replaced Paul Bulcke, who is now slated to be the chairman of Nestle.
Here’re a few highlights of this hiring and how it could influence Nestle’s future.
- The 51 years old healthcare veteran, Ulf Mark Schneider, has been the chief executive of the German giant Fresenius for the past 13 years.
- This appointment is a clear indication to investors of the fact that the board of directors want a change this time, with a hope to reinvigorate the company’s confectionary business and emphasize more on producing healthy food products.
- Schneider has reportedly played a key role in tripling Fresenius’s net income and revenues through the most profitable, strategic acquisitions.
- He was also an important resource involved in an effort to expand the company’s business in North America through acquiring urgent care centers and dialysis clinics.
- Besides buying a drug making behemoth, Fresenius is recognized for being the market leader in dialysis services and products. Ulf Mark Schneider was a crucial part of this entire growth process, which sufficiently justifies his selection by Nestle.
- Under Schneider’s leadership, Nestle could experience a massive makeover within all of its brands operating globally i.e. around 2,000. It is foreseen to push revenues sales in health and nutrition-based products as well as wellness foods.
- With an existing stake of over 22% in L’Oreal (France) that accounts for nearly US$ 22 Bn, Nestle could head for more mergers and acquisitions in future.
- As Schneider hails from a strong background in healthcare, his knowledge in the same could fuel numerous activities in the healthcare industry.
While it is most likely that Schneider will focus more on the company’s underperforming confectionary business area, reports say that the new leadership could mold Nestle’s organic sales growth in a positive way.