Nestlé reorganizes infant nutrition business, announces changes to Executive Board
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Nestlé S.A. /
Nestlé reorganizes infant nutrition business, announces changes to Executive
Board
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Vevey, November 15, 2017
Nestlé reorganizes infant nutrition business, announces changes to Executive
Board
The Nestlé Board of Directors has decided to change the organization of the
infant nutrition business at Nestlé to enhance further the company's ability to
win in this high-growth category. Effective January 1, 2018, infant nutrition
will move from the globally-managed Nestlé Nutrition to a regionally-managed
business. The change does not apply to other Nestlé businesses.
A dedicated Strategic Business Unit (SBU) will be created to retain the
strengths of Nestlé's globally-aligned nutrition strategy. The SBU (Strategic
Business Unit) will manage core global functions including science-based
innovation, quality management, compliance, and global manufacturing capacity. A
Nutrition Business Head will be appointed for each of Nestlé's three zones, to
implement the global strategy in local markets. The Nutrition Business Heads
will have operational and financial responsibility, reporting to the respective
Zone CEO (Chief Executive Officer).
The new organization will allow Nestlé's infant nutrition business to deliver
accelerated organic growth and realize further efficiency gains. The more agile
and efficient structure will enable Nestlé to respond faster to rapidly changing
local consumer preferences, evolving regulation, and customer and channel demand
for tailor-made solutions.
Nestlé was founded more than 150 years ago with the development of a
breakthrough infant food, and infant nutrition remains central to Nestlé's
strategy for sustainable value creation. The company is increasingly focusing
capital spending on advancing its high-growth categories. In addition to infant
nutrition these include coffee, petcare and bottled water.
Nestlé Nutrition was created in 2006 and has strengthened Nestlé's global
leadership in infant nutrition. It has delivered sustained growth and margin
expansion, while successfully integrating and leveraging the Gerber and Wyeth
acquisitions. It has achieved recognized leadership in compliance with the WHO
(World Health Organization) International Code of Marketing of Breast-Milk
Substitutes (BMS). Nestlé is the first BMS (Breast-Milk Substitutes)
manufacturer to have been included in the FTSE (Financial Times Stock
Exchange)4Good Index.
Nestlé also announced changes to its Executive Board today.
Stefan Catsicas, Executive Vice President and Chief Technology Officer, has
decided to pursue entrepreneurial and venture capital activities outside of
Nestlé. Since joining in 2013, Stefan Catsicas has led Nestlé Research through
considerable change, improving alignment with business and operations, promoting
scientific breakthroughs and leveraging cross-discipline discoveries. He will
leave Nestlé effective December 31, 2017, but will maintain a strong
relationship with the company in the coming years through an advisory role in
science and technology areas related to the Group's priorities.
The Nestlé Board of Directors has appointed Stefan Palzer as Executive Vice
President and Chief Technology Officer at Nestlé, effective January 1, 2018.
Stefan Palzer is currently Head of the Nestlé Research Center, and is recognized
as one of the leading global experts in food engineering and materials science.
Stefan Palzer joined the Nestlé Group in 2000. He held positions of increasing
responsibility at the Nestlé Product Technology Center (PTC) in Singen, at the
Nestlé Research Center, and as Head of the Nestlé PTC (Product Technology
Center) in York. In March 2013, he took over the role of Global R&D (Research
and Developement) Manager in the Beverage SBU (Strategic Business Unit). He has
been Head of the Nestlé Research Center since 2016.
Applying his strong scientific expertise, Stefan Palzer has significantly
contributed to a number of key innovations across product categories at Nestlé.
His ability to lead rapid and meaningful product innovation will help Nestlé to
accelerate organic growth by capitalizing on recent key consumer trends.
Heiko Schipper, Deputy Executive Vice President in charge of Nestlé Nutrition,
has decided to pursue other interests outside of Nestlé. He will leave the
company effective December 31, 2017. Heiko Schipper was appointed Global
Business Head Infant Nutrition in 2013 and Deputy Executive Vice President in
charge of Nestlé Nutrition in 2014. Under his leadership, Nestlé Nutrition
delivered sustained growth and margin improvement. It also achieved leadership
in the important China market by fully leveraging the newly acquired Wyeth
Nutrition brands and the Nestlé brand portfolio.
Heiko Schipper's position on the company's Executive Board will not be replaced,
following the change in the organization of the infant nutrition business.
--------------------------------------------------------------------------------
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: 15.11.2017 - 08:32 Uhr
Sprache: Deutsch
News-ID 568226
Anzahl Zeichen: 6339
contact information:
Town:
Vevey
Kategorie:
Business News
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