Key Highlights:
-
Martin Thompson appointed as CEO of Nestlé USA starting in January, reporting to Steve Presley overseeing Latin America and North America for Nestlé.
-
Thompson joined Nestlé through the acquisition of Starbucks consumer packaged goods business in 2018, later becoming president of Nestlé Coffee Partners managing brands like Nescafé and Starbucks at Home.
-
Nestlé has been making C-suite changes to address slowing sales growth, including the recent appointment of Thompson as CEO of Nestlé USA.
Insight:
Nestlé has been undergoing significant transformations in 2024, appointing Laurent Freixe as CEO, restructuring its organization, and planning cost-cutting measures and business separations.
The company faces challenges in consumer spending shifts impacting sales growth, particularly in North America where organic growth declined.
Thompson’s appointment reflects Nestlé’s strategy of promoting from within, leveraging his experience in growing the coffee division to drive U.S. market rebound.
Presley’s expanded role in overseeing Latin America necessitated a new CEO for Nestlé USA, with Thompson’s successful track record in the coffee category highlighted.
Thompson’s extensive CPG experience and leadership roles in companies like Ghirardelli Chocolate and Clorox position him well to lead Nestlé USA.