Nestlé has pledged to spend up to $2bn to increase the use of recycled plastics in its food packaging, making the biggest public financial commitment among consumer goods giants to tackling the problem of plastic pollution.
The world’s biggest food company by sales said on Thursday that it wanted to cut its use of virgin plastics, which are made using fossil fuels, by one-third by 2025, which builds on earlier commitments to make all of its packaging recyclable or reusable by then.
> Read the full article on the Financial Times website
By Leila Abboud
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.
