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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
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Nestle S A : Changes in the Executive Board of Nestlé S.A.

11/12/2020 | 01:27am EST

Patrice Bula, Head of Strategic Business Units, Marketing, Sales and Nespresso, and a member of the Nestlé Group Executive Board, will take a well-deserved retirement at the end of February 2021. Patrice Bula has had a long and distinguished career of over 40 years at Nestlé. He has worked in various positions on three different continents, most notably as the head of key markets like China, Germany and South Africa. In his current position, Patrice Bula has successfully led the Group's brand strategies, digital marketing transformation and the Nespresso business.

The Board of Directors of Nestlé S.A. has appointed Bernard Meunier, currently Head of Nestlé Purina PetCare , to succeed Patrice Bula as Head of Strategic Business Units, Marketing and Sales. He will assume this role as of March 1, 2021 and will join the Nestlé Group Executive Board. Over his 35 years with Nestlé, he has held senior leadership roles in marketing, commercial and general management, including serving as market head in Hungary, the Russia & Eurasia region and the Iberia region. As Head of Nestlé Purina PetCare , Bernard Meunier pioneered a digitally-powered, personalized pet care business model, driving significant growth. His passion for brands and sustainability continues to inspire the business.

The Board of Directors has additionally appointed David Rennie, Head of the Nestlé Coffee Brands group, to become a member of the Executive Board as of March 1, 2021. This decision reflects the strategic nature of his role, as coffee is one of Nestlé's major growth pillars. David Rennie has grown the business and strengthened Nestlé's leadership position in coffee. He launched a successful global partnership with Starbucks and has since extended the range of products at a rapid pace.

Mark Schneider, , commented, 'On behalf of our Board of Directors and our Executive Board, I would like to thank Patrice for the tremendous job he has done over the course of 40 years at Nestlé. We are excited that, in Bernard, we have a successor who is a dynamic leader with the proven ability to grow businesses. We are equally delighted to welcome David Rennie to the Group Executive Board. With his strategic vision, ability to execute and stellar record of success in coffee, he will make a valuable contribution.'

Contacts:

Media:
Christoph Meier Tel.: +41 21 924 2200
mediarelations@nestle.com

Investors:
Luca Borlini Tel.: +41 21 924 3509
ir@nestle.com

PDF press releases:

Disclaimer

Nestlé SA published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 06:26:02 UTC


© Publicnow 2020
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Sales 2020 84 954 M 95 276 M 95 276 M
Net income 2020 11 769 M 13 199 M 13 199 M
Net Debt 2020 30 314 M 33 998 M 33 998 M
P/E ratio 2020 24,7x
Yield 2020 2,71%
Capitalization 281 B 316 B 315 B
EV / Sales 2020 3,66x
EV / Sales 2021 3,66x
Nbr of Employees 291 000
Free-Float 93,5%
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Technical analysis trends NESTLÉ S.A.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 115,98 CHF
Last Close Price 100,88 CHF
Spread / Highest target 28,9%
Spread / Average Target 15,0%
Spread / Lowest Target -6,82%
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NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Head-Operations & Executive Vice President
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer & Executive VP
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