SWITZERLAND - Nestlé has announced significant changes to its global management structure, set to take effect in 2025. 

These moves come in the wake of CEO Mark Schneider's departure, with incoming CEO Laurent Freixe set to helm the company. 

Key changes include the merging of its North America and Latin America zones into a single Zone Americas, to be led by Steve Presley, and the consolidation of the Greater China Region into the Asia, Oceania, and Africa zone.

The Swiss food and beverage giant aims to streamline its executive board, increase decision-making speed, and sharpen its focus on global initiatives, with Freixe outlining the importance of digital transformation and real-time, AI-powered data for the company’s future growth. 

The reorganization also includes several key leadership changes within Nestlé's strategic business units, marketing, sales, and human resources.

Nestlé’s restructuring comes amid sluggish sales growth, with the company recently lowering its sales forecast for 2024. 

As consumer demand softens, particularly in the U.S., Nestlé plans to offer more discounts and cut prices across its portfolio, which includes popular brands such as Lean Cuisine, Nespresso, and Blue Bottle Coffee. 

The company is also reviewing its portfolio with an eye toward possible divestitures of slower-growing or non-core businesses.

Despite the challenges, Nestlé remains committed to boosting market share through increased investments in core products and new offerings, reflecting evolving consumer preferences.