Swiss food and beverage company Nestlé has tapped Ulf Mark Schneider as the company’s next CEO.
Schneider—the 50-year old German and US citizen and CEO of health care company the Fresenius Group—will take over responsibilities from current CEO Paul Bulcke beginning Jan. 1. The company’s board of directors has proposed Bulcke to succeed Peter Brabeck-Letmathe as chairman. Brabeck-Letmanthe announced he will be retiring in April after 50 years with the company.