FDBusiness.com

Nestlé Nominates Three New Independent Directors to its Board

 Breaking News
  • EU Agri-food Exports are Holding Strong The value of EU agri-food exports reached €137.9 billion in 2017, corresponding to a sustained increase by 5.1% in value terms compared to 2016. Published by the European Commission, the latest monthly trade report details the export values for different sectors and origin. Major gains in annual values have been achieved in agri-food exports to the USA [...]...
  • Danone Continues to Make Solid Progress With Strong 2017 Results Danone has posted consolidated sales of €24.68 billion for 2017, up by 2.5% on a ‘like-for-like New Danone’ basis (reflecting the integration of the WhiteWave acquisition), including a 3.9% rise in value showing continued mix and value enhancement in all business sectors, which offset a 1.4% decline in volume. Full-year reported sales were up 12.5% [...]...
  • Nestlé Reports Weak Sales But Margins Improve Nestlé has reported a 0.4% increase in sales to SFr89.8 billion (€77.7 billion) for 2017. Net divestments reduced sales by 1.9%, largely related to the creation of the Froneri ice cream joint venture. Foreign exchange had a minimal negative impact of 0.1%. Organic growth was 2.4%, with 1.6% of real internal growth (RIG) and pricing [...]...
  • Customized Ingredient Solutions are the Way to More and Better Gluten-free Bakery DuPont Nutrition & Health has announced the results of a consumer survey where consumers in four key European markets were asked about their attitudes to gluten-free bakery products. The survey results have revealed untapped potential for bakers to develop more and better-quality products with extra nutritional benefits. While only an estimated 1 percent of the population [...]...
  • Leading Retailers Join the UK’s Big Plastics Debate Coca Cola, Co-Op, Asda, Marks & Spencer and Iceland will come together under one roof for the first time at Packaging Innovations 2018, to talk about the UK’s hottest topic – plastics in packaging. These leading brands will form a panel, as part of the show’s Big Plastics Debate, discussing the road ahead for packaging [...]...

Nestlé Nominates Three New Independent Directors to its Board

Nestlé Nominates Three New Independent Directors to its Board
January 22
09:09 2018

Nestlé has announced that it proposes Pablo Isla, Chief Executive Officer of Inditex; Kasper Rorsted, Chief Executive Officer of adidas; and Kimberly A. Ross, former Chief Financial Officer of Baker Hughes, for election to its Board of Directors. The elections will take place at the company’s Annual General Meeting on April 12, 2018. At that time, three current directors, Andreas Koopmann, Steven G. Hoch, and Naïna Lal Kidwai will retire from the Board. The Board also proposes the individual re-election of the Chairman and the other current members of the Board.

“As Nestlé advances its Nutrition, Health and Wellness (NHW) strategy for accelerated growth in targeted consumer products categories and for sustainable shareholder value creation, each of these nominees brings a unique depth of experience and expertise that will be directly relevant to Nestlé,” says Nestlé’s Chairman Paul Bulcke. “We are thrilled to have Pablo, Kasper, and Kimberly support Nestlé through the next phase of our development. These highly accomplished individuals have strong records in successfully navigating today’s rapidly changing consumer environment with creativity and business acumen, leading to sustainable value creation.”

With the proposed nominees the full Nestlé Board will comprise 14 members, of which 12 are independent directors. Including the proposed nominees Nestlé has added seven new independent directors in the last three years. The continuous refreshment of the Board augments its diversity and experience and adds new perspectives in the different areas relevant to Nestlé.

Nestlé regularly engages with all its shareholders on topics of corporate governance including its Board’s composition. “The robust director selection process at Nestlé continues to equip the Board with the right blend of capabilities, perspectives, and experiences. This is the appropriate Board composition to support the execution of the company’s strategy to deliver long-term growth and sustainable value creation for shareholders,” says Henri de Castries, Chairman of the Nomination and Sustainability Committee and Nestlé’s Lead Independent Director.

“On behalf of the entire Board and management, I would like to warmly thank Andreas Koopmann, Steven Hoch, and Naïna Lal Kidwai for their highly appreciated services and important contributions as directors,” Paul Bulcke adds.

Pablo Isla, a Spanish citizen, is the Chairman and CEO of Inditex, one of the world’s largest retail fashion companies, holding brands such as Zara. Pablo Isla brings extensive retail experience, with expertise in e-commerce, innovative business and supply chain models, and environmental, social, and governance (ESG) leadership. Previously, he was co-executive Chairman of Altadis and General Secretary of Banco Popular, after serving as General Manager of the National Heritage Department of the Spanish Treasury. Until 2017 he served on the Board of Directors of global telecommunications company, Telefónica.

Kasper Rorsted, a Danish citizen, is the CEO of adidas. Kasper Rorsted brings deep experience in the consumer goods and technology sectors. Prior to his CEO role at leading sporting goods company adidas, Kasper Rorsted served as CEO of Henkel, a multinational maker of cleaning products, beauty care items and adhesives, following senior executive roles at technology companies including Hewlett-Packard, Compaq, and Oracle. He currently also serves on the Supervisory Board of global media company, Bertelsmann.

Kimberly A. Ross, a US citizen, is the former Senior Vice President and Chief Financial Officer of Baker Hughes, acquired by GE in 2017, and currently serves as Non-Executive Board Member of Chubb Insurance Group and PQ Corporation. Kimberly A. Ross brings extensive financial and accounting expertise, and operational leadership experience in industries relevant to Nestlé. She was previously Executive Vice President and CFO of Avon Products, and before that served as Executive Vice President and CFO of food retailer Royal Ahold N.V.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • February 25, 2018fish international
  • February 27, 2018Warsaw Gastro Show
  • February 27, 2018Int'l Food Fair
  • February 28, 2018GAST
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements