Nestlé S.A. has named Ulf Mark Schneider as successor to CEO Paul Bulcke, according to Bloomberg.
Bulcke has been proposed for election to Chairman of the Board at the next Annual General Meeting on April 6, 2017. In order to prepare for this future role as active, non-executive Chairman and respect a minimum cooling-off period, Bulcke will resign from his present position as CEO on December 31, 2016, the company wrote in a statement.
Starting on January 1, 2017, the Board unanimously decided to appoint Schneider as the new CEO of Nestlé S.A., and propose him for election to the Board of Directors at the 2017 Annual General Meeting.
Schneider has been CEO of Fresenius Group since 2003. He is a graduate of the University of St. Gallen with both a graduate and a doctoral degree, and also holds a Harvard Business School MBA.
In a statement Bulcke said, “I thank the Board for their confidence in proposing me as Chairman and I’m looking forward to working with Ulf Mark Schneider for Nestlé’s continued success. Ulf Mark Schneider brings to Nestlé a wealth of proven and seasoned professional and personal skills which will blend very well with Nestlé’s experienced management and company culture.”
