- Nestlé restructures, merging LATAM and NA into Zone Americas, integrating Greater China into Zone AOA, and maintaining Zone Europe.
- Steve Presley and Remy Ejel lead Zones AMS and AOA. Executive Board sees changes: Bernard Meunier steps down, David Rennie and Philipp Navratil join.
- Reporting segments now include Zone AMS, AOA, EUR, Nestlé Health Science, and Nespresso. Béatrice Guillaume-Grabisch steps down, Anna Lenz and Chris Wright assume new roles. Emphasis on digital transformation and market focus continues.
Thu Oct 17 06:06:08 -2024 UTC– Nestlé’s nine-month 2024 sales report shows 2.0% organic growth, driven by 0.5% real internal growth (RIG) amid soft consumer demand and reduced inventories. CEO Laurent Freixe also announced organizational changes aim to enhance performance and market share
Pricing rose 1.6% after previous hikes.
Total sales fell 2.4% to CHF 67.1 billion due to currency impacts and divestitures. Key growth areas included coffee, Purina PetCare, and confectionery.
The company anticipates full-year organic growth of 2% and a stable profit margin.
Changes To the Executive Board
Another Nestlé from the day press release details organizational changes effective January 1, 2025. The merger of Zone Latin America and Zone North America into Zone Americas, leadership shifts in other regions, and changes within the Executive Board structure are outlined. The CEO discusses the current market environment and strategic plans for the future.
Additional adjustments to reporting segments and responsibilities within the company are highlighted, with a focus on digital transformation and consumer-centric strategies. CEO Freixe expresses gratitude for outgoing members and welcomes new additions to the Executive Board.