By Brian Blackstone

ZURICH -- Nestlé SA said Monday that it has tapped Ulf Mark Schneider, chief executive of Fresenius Group, as its new CEO starting Jan. 1.

Mr. Schneider will succeed current chief executive Paul Bulcke, whom Nestlé's board has proposed as the company's next chairman after Peter Brabeck-Letmathe retires from that position next year.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

June 27, 2016 12:31 ET (16:31 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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