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    NESN   CH0038863350


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Press Release: Nestlé nominates Lindiwe Majele Sibanda to join its Board of Directors, provides update on Annual General Meeting

02/18/2021 | 01:20am EDT
   This press release is also available in Français (pdf) 
and Deutsch (pdf) 
   Vevey, February 18, 2021 
   Nestlé nominates Lindiwe Majele Sibanda to join its Board of 
Directors, provides update on Annual General Meeting 
   Nestlé announced today that it proposes Lindiwe Majele Sibanda, a 
Professor and the Director and Chairwoman of the African Research 
Universities Alliance Centre of Excellence in Sustainable Food Systems 
at the University of Pretoria, South Africa, for election to its Board 
of Directors. The elections will take place at the company's Annual 
General Meeting (AGM) on April 15, 2021. 
   The company has also provided an update on the AGM format and topics. 
   Board changes 
   Ursula Burns, a Nestlé Board member since 2017, has decided not to 
stand for re-election. Therefore, the Board proposes Prof. Lindiwe 
Majele Sibanda, a citizen of Zimbabwe, for election in her place and 
will propose the individual re-election of all other current members of 
the Board and the Chairman. 
   "I would like to thank Ursula Burns wholeheartedly for her engagement, 
expert advice and valuable perspectives", said Paul Bulcke, Chairman of 
the Nestlé Board of Directors. "At the same time, we are delighted 
to propose Lindiwe as a new Board member. With her hands-on farming 
experience and her expertise in environmental sustainability, public 
policy and sustainable food systems, she will provide invaluable 
guidance along our journey to build regenerative food systems at scale. 
Her broad experience across the African continent as well as across the 
globe will enrich the Board's insights." 
   In addition to her role at the University of Pretoria, Prof. Sibanda is 
also the co-Chairwoman of the Global Alliance for Climate-Smart 
Agriculture hosted by the Food and Agriculture Organization of the 
United Nations in Rome, Italy. She served as the Vice-President, Country 
Support, Policy and Partnerships for the Alliance for a Green Revolution 
in Africa in Kenya. For 13 years, she worked in South Africa as the CEO 
and Head of Mission of the pan-African Food, Agriculture and Natural 
Resources Policy Analysis Network, operating in 19 African countries. 
From 2016 to 2018, she served on the EAT-Lancet Commission on healthy 
diets from sustainable food systems and as a member of the Australian 
Centre for International Agricultural Research Policy Advisory Council. 
She is the Managing Director of Linds Agriculture Services in Harare, 
   With Lindiwe Majele Sibanda, the Nestlé Board will comprise 14 
members, of which twelve are independent directors. Nestlé aims to 
continuously add diverse experience and unique perspectives to its board 
as well as to enhance its cultural and gender diversity. 
   2021 Annual General Meeting under COVID-19 rules 
   The safety of employees and shareholders is Nestlé's top priority. 
Therefore, in line with applicable Swiss legislation, the personal 
participation of shareholders will unfortunately not be possible at this 
year's AGM. Shareholders will be able to exercise their voting rights 
through Nestlé's independent shareholder representative. 
   Nestlé to demonstrate its strong commitment to non-financial 
reporting at the Annual General Meeting 
   In addition to standard updates on strategy, financial performance and 
compensation, Nestlé will also give an update on its non-financial 
performance at the 2021 AGM. Nestlé has always been deeply 
committed to being transparent about its work on its environmental, 
social and governance (ESG) priorities and has a strong track record in 
doing so. The company is aware of growing investor interest in this 
space and believes that shareholders have a right to know about its 
progress on topics like reduction of greenhouse gas emissions, 
responsible sourcing, sustainable packaging and water. Nestlé will 
continue to engage its shareholders on this journey and welcomes 
upcoming changes to Swiss legislation, which will set out a framework 
for shareholder involvement. Nestlé will implement the new 
legislation in the most sensible way for our shareholders, and in the 
meantime, the company will continue to advance this important agenda. 
   To reflect the importance of sustainability in its corporate governance, 
Nestlé will split the existing Nomination and Sustainability 
Committee into a separate Nomination Committee and a focused 
Sustainability Committee. This will allow Board members to dedicate more 
time, focus and action on each separate topic. 
   CV of Lindiwe Majele Sibanda (pdf, 200Kb) 
   Christoph Meier  Tel.: +41 21 924 2200 
   Luca Borlini  Tel.: +41 21 924 3509 

(END) Dow Jones Newswires

February 18, 2021 01:20 ET (06:20 GMT)

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Yield 2021 2,61%
Capitalization 306 B 333 B 332 B
EV / Sales 2021 3,99x
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Nbr of Employees 273 000
Free-Float 96,6%
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Average target price 114,35 CHF
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Ulf Mark Schneider Chief Executive Officer & Director
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Paul Bulcke Chairman
Stefan Palzer Chief Technology Officer & Executive VP
Magdi Batato Head-Operations & Executive Vice President
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