History of Nestlé in Timeline

Nestlé S.A. is a Swiss multinational food and drink processing conglomerate, headquartered in Vevey, Switzerland. It's recognized as the world's largest publicly held food company based on revenue since 2014. Nestlé's global presence is reflected in its ranking on the Fortune Global 500 and Forbes Global 2000 lists, highlighting its significant financial scale and influence in the food and beverage industry.

September 2017: New profit target set

In September 2017, Nestlé set a new profit target.

January 1, 2018: Dissolution of Beverage Partners Worldwide

On January 1, 2018, Nestlé and Coca-Cola dissolved the Beverage Partners Worldwide venture. This was partly due to Nestlé's plan to independently expand its Nestea brand.

January 2018: Sale of US confectionary business

In January 2018, Nestlé USA announced the sale of its US confectionary business to Ferrara Candy Company for an estimated $2.8 billion. Brands included in the sale were 100 Grand, BabyRuth, Butterfinger, OhHenry!, Raisinets and SnoCaps.

January 2018: Offloading US candy brands

In January 2018, Nestlé agreed to offload over 20 of its US candy brands.

July 2018: Activist investor criticism

In July 2018, activist investor Loeb criticized Nestlé's slow pace of change, while Nestlé defended its actions, including investments in key brands and its global coffee partnership with Starbucks. This led to Third Point Management launching NestleNOW, advocating for significant changes.

September 1, 2024: Laurent Freixe to replace Schneider as CEO

On September 1, 2024, Nestlé announced that Schneider would leave his position as CEO and be replaced by Laurent Freixe.

September 2025: Bulcke to leave position as Chairman of the Board

In September 2025, Nestlé announced Bulcke would leave his position as Chairman of the Board at the end of September, six months earlier than planned, as part of an accelerated management transition.

September 2025: Dismissal of Laurent Freixe

In September 2025, Nestlé announced the immediate dismissal of its chief executive, Laurent Freixe, following an investigation by its board that found he had an undisclosed romantic relationship with an employee in breach of the company's code of business conduct.