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Nestlé said on Tuesday that François-Xavier Roger, its Executive Vice President and Chief Financial Officer, would step down from both roles to pursue new opportunities after spending 8 years at the company.

Nestlé also said that Anna Manz, who currently serves as Chief Financial Officer and is a member of the Board for the London Stock Exchange Group, would join Nestlé as CFO as soon as she was released from her present duties.

Manz will also become a member of the Executive Board of Nestlé as an Executive Vice President.

“On behalf of our Board of Directors and our Executive Board, I would like to offer our sincere thanks to François. He has supported us in shaping and implementing our value creation strategy and has helped steer Nestlé through a very turbulent macro-economic environment over the last three years. We wish him all the best for his next endeavors,” Mark Schneider, Nestlé’s Chief Executive Officer, said in a press release.

“At the same time, we are thrilled to welcome Anna Manz to Nestlé. Anna has spent her career growing businesses and improving operational efficiencies. Her deep knowledge of the consumer goods industry, combined with her extensive experience across many corporate functions, make her uniquely positioned to help lead Nestlé into its next phase of value creation,” the CEO added.

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