New CEO for Nestlé UK & Ireland

Richard Watson is to become CEO of Nestlé UK and Ireland as Stefano Agostini moves to a new role after six years as market head.

Watson is the current Managing Director for Nestlé Confectionery in the UK & Ireland and becomes CEO of the market in his 27th year at Nestlé.

Stefano will become the new Head of Confectionery for Nestlé's Zone Europe with both changes taking effect on 1st March 2023.

Agostini joined Nestlé in 1989 and became CEO of Nestlé UK and Ireland in 2017. He set ambitious targets for growth and led the business to a turnover of more than £3 billion during a period of substantial global change.

Watson has spent the last six years heading up Nestlé UK & Ireland's Confectionery division where he has built a team that has driven growth, increased market share and pioneered a number of significant innovations in the category.

"I am honoured and incredibly excited to be taking on such an important role at such an important time. The UK and Ireland means a lot to Nestlé and it means a lot to me. I first joined Nestlé Purina in the UK in 1996 and have been lucky enough to build a career here over the last quarter of a century," Watson said.

"This is one of Nestlé's biggest markets and, from experience, I know it's a great place to do business, to innovate, to grow and to work with very talented people. Equally, I know Nestlé continues to have a huge role to play in the UK and Ireland. We are a big part of communities here as a major manufacturer, an employer, an exporter and we are fortunate to provide many brands that families and pets have been relying on and enjoying for generations.

"I would like to thank Stefano for his leadership in the last six years and wish him well in his new role. I am really looking forward to getting started and leading this brilliant team into its exciting next phase."