Nestle Appoints Steve Presley CEO, Paul Grimwood Non-Executive Chairman

Posted On: 3/26/2018

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ARLINGTON, VA -- Nestlé USA chief finance and strategic transformation officer Steve Presley will succeed Paul Grimwood as market head and chief executive of Nestlé USA, effective Apr. 1.

Grimwood will transition from his current role and will continue to serve the business as non-executive chairman of Nestlé USA until May 2019.

Presley began his career with Nestlé more than 20 years ago as a controller for the beverage factory in Suffolk, VA. He held various executive roles within the beverage division. In 2009, Presley was named president of Nestlé Business Services and in 2013, he was appointed chief financial officer for Nestlé USA. In 2016, Presley's role was expanded to include leading Nestlé USA's strategic.

Presley's replacement as Nestle USA's chief financial officer will be announced at a later date.

Grimwood joined Nestle in 2001 and has served as chairman and chief executive of Nestlé USA since 2012.

With $9.7 billion in 2017 sales, Nestlé USA is the largest of eight U.S. operating companies as part of Nestlé Group. It includes the Lean Cuisine, Nestlé Toll House, DiGiorno pizza, Stouffer's and Nescafé brands across baking and global foods, beverage, foods and ice cream divisions.