Trending : Nestle CFO Steps Down After Eight Years
May 30, 2023 at 06:14 am EDT
Share
0958 GMT - Nestle is among the most mentioned companies across news items over the past six hours, according to Factiva data, after news that its chief financial officer is stepping down. Francois-Xavier Roger, who decided to pursue new professional challenges after eight years at the Swiss company, will be succeeded by Anna Manz, currently CFO and board member of the London Stock Exchange Group. "Francois-Xavier Roger will leave his mark at Nestle, looking back at eight years of successful transformation and value creation without any business disruption," Vontobel's Jean-Philippe Bertschy said in a research note. Among Roger's achievements, the analyst mentions portfolio management execution, with over 20% of sales through acquisitions and disposals, significant cost savings over the years and optimization of the working capital. "We trust that Anna will pursue Francois' legacy," Bertschy said. "We welcome the choice of a woman as new CFO as Nestle has diversity as one of its main priorities in the ESG roadmap." Nestle said Manz will join the company as soon as she is released from current duties. Dow Jones & Co. owns Factiva. (giulia.petroni@wsj.com)
Nestlé S.A. is the world's leading agri-food group. Net sales break down by category of products as follows:
- powdered and liquid beverages (26.7%): soluble coffees (Nescafé and Starbucks brands), coffee in capsules (Nespresso), chocolate drinks (Nesquik, Milo, etc.), tea drinks (Nestea), etc.;
- pet food (20.3%): brands such as Purina, Friskies, Felix, etc.;
- pharmaceutical, nutrition and well-being products (16.4%): nutritional supplements (Resource, Boost, Nutren, Optifast, Peptamen brands, etc.), infant and maternal nutrition products (NAN, illuma, Cerelac, Nido, Gerber), ketogenic beverages (BrainXpert), (Nesquick, Fitness, Cheerios, Lion, etc.), etc.;
- ready meals and seasoning products (12.5%): frozen and chilled dishes (Lean Cuisine, Hot Pockets and Stouffer's brands), soups (Maggi), etc.;
- dairy products and ice cream (11.8%): powdered milk, sweetened condensed milk, yoghurt and cream desserts, ice cream (Nido, Nesvita, Carnation, La Laitière, Coffee Mate, Nestlé Ice Cream, Dreyers, Häagen-Dazs, Extrême brands, etc.);
- chocolates, sweets and biscuits (8.7%): Kit Kat, Smarties, Cailler, Terrafertil, etc. brands;
- bottled waters (3.6%): Nestlé Pure Life, Vittel, Perrier, S. Pellegrino, etc. brands.
Net sales are distributed geographically as follows: Switzerland (1.2%), France (3.8%), the United Kingdom (3.8%), Germany (2.4%), Europe (12.8%), the United States and Canada (35%), China (5.9%), Asia and Oceania (21.4%) and Latin America (13.7%).
NESTLÉ S.A. 
