Nestle CEO Schneider to step down after eight years at helm

Nestle chief executive Mark Schneider is leaving the Swiss food group after eight years in charge and will be replaced by Latin America boss Laurent Freixe, the company said Thursday. The company has also faced controversy in recent years, with Swiss NGO Public Eye accusing Nestle of selling baby food with high levels of added sugar in low-income countries but not in wealthier nations.