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Consumer goods companies are experiencing a wave of chief executive changes as they struggle with sluggish growth and shifting consumer preferences. On Tuesday, Kraft Heinz appointed Steve Cahillane as its new CEO, joining other firms like Coca-Cola, Unillever, Nestlé, and Lululemon in recent leadership reshuffles."Chief executives have had to react to all the market changes taking place and adapt," said Kim Pomoell, partner in Heidrick & Struggles' consumer markets practice. "And there's been impatience from boards, to some degree, in terms of not hitting the targets fast enough and reacting to those changes." Global CEO turnover remains elevated, according to executive search firm Russell Reynolds Associates, which recently reported that, up to the end of the third quarter of 2025, there were 176 incoming CEOs worldwide, a 9% year-on-year rise. While some changes are attributed to individual executives' performances, broader economic challenges including U.S. President Donald Trump's tariffs and supply chain turbulence, such as the Suez Canal disruption, are also factors.
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