KUALA LUMPUR: Nestle veteran Craig Connolly will be the new chief financial officer of the Malaysia operations with effect from Feb 1, 2019, in a reshuffle among CFOs in Vietnam, Malaysia and Japan.
Nestle (Malaysia) Bhd announced on Monday Connolly, who is currently the CFO of Nestle Vietnam, will take over from Martin Kruegel who has successfully led the finance team since 2014.
As for Kruegel, who is also a veteran in the multinational company, he will be taking on a new role as CFO of Nestlé Japan.
Nestlé Malaysia chief executive officer Alois Hofbauer said over the past four years, Kruegel has been instrumental in helping to drive the strong performance of Nestlé Malaysia.
He added Kruegel has played a pivotal role in the smooth implementation of new organisational efficiencies.
“We are positive that his wealth of knowledge and experience will serve him well and continue to benefit the Nestlé Group,” he said.
Commenting on the incoming CFO, he said Connolly’s strong functional capabilities and leadership skills combined with his passion for continuous improvement make him well suited for his new position.
“The group is confident that Connolly’s expertise and strong track record in accelerating growth will continue to spur Nestlé Malaysia forward,” Hofbauer said.
Kruegel began his career in Nestlé Germany in 1995 where he held various supply chain, finance, accounting and controlling roles.
He later took on the role of finance manager in charge of cereal partners for Nestlé Nordic for two years. Prior to joining Nestlé Malaysia, Kruegel was CFO for Nestlé Nigeria.
As for Connolly, he joined Nestlé Oceania in 1986 taking on various accounting roles. In 2007, he was promoted to head of Nestlé business services in the Philippines, where he spearheaded the creation and successful development of both the Manila and Cairo NBS Centres, providing services to Asia, Oceania and Africa markets, as well as North America.
In 2014, Connolly took on his current position in Vietnam where he has played a key role in accelerating strong double-digit growth and profitability, improved margins, reduced working capital and investment in portfolio expansion.
