Steve Presley has been named the new market head and CEO of Nestlé USA, replacing Paul Grimwood on 1 April 2018.

Presley, currently the chief finance and strategic transformation officer, has had a career with Nestlé for over 20 years, starting as a controller for the Virginia beverage factory.

He has held various roles within this division, including vice president of finance, general manager of premium ready-to-drink beverages and chief financial officer (CFO) of Nestlé USA.

Presley is currently responsible for ‘developing, implementing and leading new innovative strategies that ensure the long-term growth of the company’. His replacement will be announced at a later date.

Grimwood will change over from his current role and become the non-executive chairman of Nestlé USA until May 2019.

Executive vice president and head zone of Americas for Nestlé, Laurent Freixe said: “Steve has played a critical role in driving the strategic transformation of Nestlé USA alongside Paul.

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“His powerful combination of deep commercial and financial expertise provides continuity and makes him ideally suited to lead Nestlé USA in the changing consumer marketplace.

“Steve’s experience will prove invaluable in continuing to pursue new internal and external models to increase the speed of innovation, capitalise on M&A to seed our innovation machine, and create new income streams and capabilities.”

Grimwood has held the role of chairman and CEO of Nestlé USA since 2012. He led a ‘strategic transformation’ of the business, which included evolving products to meet consumer tastes and driving change within the organisation.

Grimwood joined Nestlé USA in 2001 as country business manager for Nestlé Purina PetCare UK and Ireland.

Freixe added: “Paul’s dedication to Nestlé and his exceptional leadership helped propel Nestlé USA to record service levels, working capital and profitability in 2017.

“He achieved this success while simultaneously orchestrating Nestle USA’s strategic transformation which included the sale of our confections business, moving our headquarters across the country, and leading acquisitions and investments in companies like Freshly, Sweet Earth and Chameleon Cold-Brew.”

As the non-executive chairman, Grimwood will continue to provide strategic counsel, with a focus on shareholder relations.