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Diving overview:
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Nestlé USA appoints Martin Thompson as CEO It starts in January. He will report to Steve Pressley, who will oversee Latin America and North America. nestle.
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Mr. Thompson joined Nestlé in 2018 as part of the acquisition of Starbucks’ consumer packaged goods and foodservice products business. Two years later, he was appointed president of Nestlé Coffee Partners, where he was responsible for brands such as Nescafe, Starbucks at Home, and Seattle’s. The best.
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The appointment is the latest executive move by. Over the past three months, Nestlé has The maker of Hot Pockets and Tombstone is struggling with slowing sales growth.
Dive Insight:
Nestlé is actively reviewing its business toward the second half of 2024.
In August, the Swiss-based consumer goods giant Laurent Flexet, a veteran of the company, is appointed CEO. Two months later, the company overhauled its organizational structure and executive committee to simplify and speed up decision-making. And in November, Nestlé announced it would cut costs by at least $2.8 billion by 2027 and separate its water and premium beverage businesses into separate businesses from 2025.
Nestlé has been hit hard as consumers cut back on spending, reducing demand for many of its products, including pizza and other frozen foods.
In October, the company lowered its full-year sales outlook to 2%, the lowest annual rate since at least the turn of the century. Nestlé noted that organic growth in North America, which accounts for more than a quarter of its sales, fell 0.3% to $21.4 billion over the nine-month period.
The common theme of recent leadership changes is nestle has been promoted from within, and Thompson’s appointment follows that pattern.
As food and beverage companies respond to changing consumer purchasing habits and food consumption patterns, Thompson has executives who understand the U.S. market and have successfully grown global markets. Nestlé’s core coffee business will prove crucial in helping the company recover.
Mr. Pressley currently oversees the United States as part of North America, but will soon include the company’s operations in Latin America. Following this announcement, Nestlé has decided to appoint a new CEO in charge of its US operations.
Under Thompson’s leadership, nestle said The coffee division served as a key growth driver for the company’s U.S. operations, delivering consecutive profitable growth and market share gains.
“Over the past several years, Marty has led one of our most successful businesses and solidified our position as the undisputed leader in the coffee space,” Pressley said in a statement. “He was instrumental in doubling our Starbucks business globally in just four years and leading Nescafé’s expansion in the U.S. market.”
Thompson has worked in the CPG field for more than 35 years and has experience in sales, marketing and general management. Prior to joining Nestlé, Thompson was CEO of Ghirardelli Chocolate and has held several leadership roles at Clorox and Procter & Gamble.
