Nestlé has named London Stock Exchange Group finance chief Anna Manz as CFO.

Manz will replace François-Xavier Roger, who has held the Swiss food giant’s top finance role for eight years.

Roger, who was also executive vice president, said he wants to “pursue new professional challenges”. He will remain at the company for an unspecified transition period.

It comes as Unilever CFO Graeme Pitkethly also announced his departure today (30 May) after more than two decades with the Marmite maker.

Nestlé CEO Mark Schneider said Roger “has supported us in shaping and implementing our value creation strategy and has helped steer Nestlé through a very turbulent macro-economic environment over the last three years”.

On Manz’s appointment, he added: “Anna has spent her career growing businesses and improving operational efficiencies. Her deep knowledge of the consumer goods industry, combined with her extensive experience across many corporate functions, make her uniquely positioned to help lead Nestlé into its next phase of value creation.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Manz, also a board member at London Stock Exchange Group, which owns London Stock Exchange and FTSE Russell, will take up the mantle at Nestlé “as soon as she is released from her present duties”, it said. It did not expand upon how long this could take.

She will also become a member of the executive board and an executive vice president.

Previously, Manz was CFO and executive director at Johnson Matthey plc, leading the strategy, finance, procurement and IT functions. Prior to that, she spent 17 years at drinks giant Diageo in senior roles including chief strategy director, CFO of Asia Pacific and group treasurer.

Nestle CFO François-Xavier Roger headshot with blurry green background
Nestlé CFO François-Xavier Roger is stepping down from the role. Credit: Nestlé

Roger joined Nestlé from Japan’s Takeda Pharmaceutical in July 2015.

In the first three months of 2023 Nestlé’s sales increased by 5.6% to SFr23.5bn ($26.06bn). Organic growth reached 9.3%.

In April, Roger confirmed its organic sales growth prediction of between 6% and 8% in the full year for 2023 – a figure first suggested in its 2022 full-year results in February, prompting speculation over price increases.

The KitKat maker raised prices in 2022 by less than some of its international peers, and CEO Mark Schneider insisted Nestlé “didn’t see any volume impact at all”, unlike some of its global counterparts.

Underlying trading operating profit margin is expected to be between 17.0% and 17.5% for 2023.

Nestlé’s share price was down 2.46% as of 11:45am BST in London today.

Meanwhile, earlier this month former Freshly shareholders reportedly sued Nestlé over the terms of its takeover of the meal-kit business in 2020. The former investors have alleged Nestlé failed to make earnout payments to Freshly shareholders pursuant to the merger agreement, according to

And earlier this year Nestlé was one of four companies under investigation in Turkey for allegedly violating competition laws on sharing pricing information. Nestlé was also being investigated in a separate case under the accusation the company set prices and imposed unspecified restrictions for “distributors”, according to notices posted on the website of Rekabet Kurumu, Turkey’s competition authority. Nestlé told Just Food it was “co-operating fully with the authorities as part of their investigation”.

Last week Nestlé also announced a new operations lead, Stephanie Pullings, following the retirement of Magdi Batato. Batato has worked at the company for almost 30 years.