Nestlé Annual General Meeting
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Nestlé Annual General Meeting
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Vevey, 6 April 2017
Nestlé Annual General Meeting
* All Board of Directors' proposals approved with strong majorities
* Paul Bulcke elected as Chairman
* Ulf Mark Schneider and Ursula M. Burns elected as new members of the Board
* Peter Brabeck-Letmathe appointed as Chairman Emeritus
2706 shareholders attended the Nestlé S.A. Annual General Meeting today in
Lausanne. They represented 55.60 percent of the capital and 76.80 percent of the
shares entitled to vote. The annual review and the accounts were approved and
the shareholders agreed to the discharge of the Board of Directors and the
Management. The shareholders further approved the proposed dividend of CHF 2.30
per share.
All proposals of the Board of Directors were approved with strong majorities.
The shareholders elected the members of the Board of Directors individually, for
a term of office until the end of the next Annual General Meeting.
After serving the company for almost 50 years, including 11 years as CEO and 12
years as Chairman, Peter Brabeck-Letmathe did not stand for re-election after
reaching the mandatory retirement age. The Board of Directors thanked him warmly
for his many years of service to Nestlé and appointed him as Chairman Emeritus.
As such he will be available for advice upon request.
The Board of Directors thanked Paul Bulcke for his nine years of service as CEO
of Nestlé. The shareholders elected Paul Bulcke as Chairman of the Board of
Directors. They further elected Nestlé CEO Ulf Mark Schneider and Ursula M.
Burns, Chairman of the Board of Xerox Corporation, as new members of the Board.
The shareholders approved prospectively the total compensation of the Board of
Directors and the Executive Board in binding votes. They also accepted the
Nestlé Compensation Report 2016 in a separate advisory vote.
The Board decided to appoint Henri de Castries as Lead Independent Director, who
will chair Board meetings and in camera sessions when the Chairman is not
present or conflicted.
In his address to the meeting, Nestlé Chairman Peter Brabeck-Letmathe said: "At
a time when we are seeing more and more consolidation and drastic cost cuts in
our industry, it is important to reaffirm Nestlé's drive to create value through
growth. Growth that is sustainable and profitable. In order to be able to invest
for growth, particularly through innovation and renovation, we will have to
increase our operational efficiency to free up the resources we need."
He concluded: "I would like to thank the Board of Directors for their
commitment, their expertise and their support. I would also like to thank you,
the shareholders, for your loyalty and commitment to Nestlé. Over the past 20
years, I have had the honour and the pleasure to lead and then to chair our
wonderful company. Throughout all these years, you have given me your support
and your trust. I sincerely appreciate that."
On his election as Chairman, Paul Bulcke said: "I would like to thank you for
the trust you have put in me by electing me as Chairman, a great responsibility
and even greater motivation. I will continue to put my experience and knowledge
at the service of Nestlé, leading the Board and supporting Ulf Mark Schneider as
he takes the company forward as CEO."
After reviewing the Group's 2016 results, Nestlé CEO Ulf Mark Schneider said:
"Continuity and change. These two words describe the way forward for Nestlé.
Continuity - building on the strong nutrition, health and wellness strategy of
our company. Change - increasing our speed and simplifying the way we work."
He added: "We at Nestlé believe that sustained value creation is the result of
both growth and operating efficiency. These are my two priorities for the
company. Together with a healthy sense of urgency, they will ensure the
continued success of Nestlé. I am confident that Nestlé has what it takes to be
successful: a robust strategy, unparalleled global reach, industry-leading
expertise and, above all, our people - the thousands of colleagues around the
world who make Nestlé."
After reviewing the long and successful career of Peter Brabeck-Letmathe at
Nestlé, Vice-Chairman of the Board Andreas Koopmann said: "For all of these
achievements, Mr Chairman, allow me on behalf of the Board of Directors, the
Executive Board, the employees, and - I am sure - the vast majority of
shareholders present, to simply say: thank you very much."
For the year to come, the Board and its different Committees will be composed as
follows:
Board of Directors
Paul Bulcke, Ulf Mark Schneider, Andreas Koopmann, Henri de Castries, Beat W.
Hess, Renato Fassbind, Steven G. Hoch, Naïna Lal Kidwai, Jean-Pierre Roth, Ann
M. Veneman, Eva Cheng, Ruth K. Oniang'o, Patrick Aebischer, Ursula M. Burns
Chairman's and Corporate Governance Committee
Paul Bulcke, Ulf Mark Schneider, Andreas Koopmann, Henri de Castries, Beat W.
Hess, Renato Fassbind
Compensation Committee
Beat W. Hess, Andreas Koopmann, Jean-Pierre Roth, Patrick Aebischer
Nomination and Sustainability Committee
Henri de Castries, Paul Bulcke, Steven G. Hoch, Ann M. Veneman
Audit Committee
Renato Fassbind, Naïna Lal Kidwai, Henri de Castries, Eva Cheng
The addresses to the Annual General Meeting of the Chairman, the Vice-Chairman
and the CEO can be found on the Nestlé corporate website.
For more information about Nestlé in society, see our new Creating Shared Value
report.
Contacts
Media: Robin Tickle Tel.: +41 21 924 22 00
Investors: Steffen Kindler Tel.: +41 21 924 35 09
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nestlé S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2017 - 18:22 Uhr
Sprache: Deutsch
News-ID 535034
Anzahl Zeichen: 6958
contact information:
Town:
Vevey
Kategorie:
Business News
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