Nestlé, the world’s largest food and drinks company, is a giant awakening. Since the start of the year, new chief executive Mark Schneider has reacted to forces reshaping the global consumer goods industry — and pressure from activist investors. Profit margin targets have been set, growth areas identified and a SFr20bn share buyback programme unveiled. On Wednesday, its infant nutrition business was broken into regional units, to get closer to customers. Expectations have mounted that Mr Schneider will revamp Nestlé’s portfolio with big acquisitions and disposals.
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By Ralph Atkins
Source: Financial Times
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.