Nestlé SA on Monday announced a shuffle of its executive board, as the food and beverage giant prepares for new leadership at the beginning of next year.
The company said that executive vice president Luis Cantarell, who heads the European, Middle East and North Africa zone, will retire at the end of the year.
He will be succeeded on Jan. 1 by Marco Settembri, who currently runs the company’s waters division. Mr. Settembri will in turn be succeeded in his position by Maurizio Patarnello, currently Market Head of Nestlé’s Russia and Eurasia region.
In June, Nestlé tapped Ulf Mark Schneider —who had run a Germany-based health-care company—to be its new chief executive, a move that underscored the increasing emphasis on health and nutrition from the owner of Kit Kat candy bars, Perrier mineral water and DiGiorno frozen pizza.
He starts as CEO on Jan. 1.
By Brian Blackstone
Source: Wall Street Journal
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.