Nestle joins long list of firms replacing chief executives in bid to regain investor confidence

New bosses started at Dove soap maker Unilever, beleaguered infant-formula maker Reckitt Benckiser and Guinness owner Diageo

Nestle ceo Mark Schneider’s star began to fade as the firm struggled to win back shoppers. Picture: Getty Images

Nestle chief executive Mark Schneider’s unexpected exit raised concerns among investors about the outlook for profitability at the world’s largest food company, as it struggles to win back inflation-weary customers to premium brands.

After eight years at the helm of the Swiss maker of Nespresso coffee and Purina pet foods, Mr Schneider will be replaced by Latin America chief Laurent Freixe, Nestle said.