Nestle UK and Ireland has announced that chief executive Alistair Sykes will stand down at the end of 2008 after seven years in the role. He will be replaced by Paul Grimwood, currently managing director of Nestle Confectionery (UK).
Sykes will remain non-executive chairman of the company until the end of 2009 and plans to take on other similar roles. His decision to stand down coincides with the end of his term as president of IGC, the trade organisation of the food and grocery industry.
Grimwood’s promotion will see David Rennie, currently marketing director of the confectionery division, moved to replace him. Rennie, a former Procter & Gamble marketer, joined Nestle in August 2005 (MW July 6, 2005). All of the changes will be effective from January 1 2009.
Grimwood is a former managing director of Nestle’s UK petcare division but has also spent time at company’s head office in Switzerland. He returned to the UK in November 2005 to replace Chris White, who was in the role for just two years. White caused much controversy during his short tenure for his outspoken approach to the role.