Nestlé's sales and marketing chief Lars Oloffson is leaving the Swiss food giant to take over as CEO of the world's second-largest retailer Carrefour.
Oloffson, who was once tipped as a candidate for the top job at Nestlé, is to take up his new post on January 1, the French group said in a statement on Tuesday.
Carrefour has been struggling as consumers switch to discount stores and curb spending on non-essential items.
Oloffson, a Swedish national, has held several positions at Nestlé oduring his 32 year at the company. In 2005 he was promoted to executive vice president of the group, responsible for strategic business units, marketing and sales on a global level.
"We respect Mr Oloffson's decision and thank him warmly for his many years of dedication and loyalty to Nestlé and his valuable contribution to our company's development," commented Nestlé CEO Paul Bulcke.
He is the second top executive to leave Nestlé in quick succession after former Chief Financial Officer Paul Polman was named as the new chief executive of rival Unilever in September.