Nestle : CEO says is in full agreement with chairman on strategy
July 26, 2018 at 09:45 am EDT
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ZURICH (Reuters) - Nestle Chief Executive Mark Schneider on Thursday defended the food giant's efforts to improve margins without sacrificing growth, also countering speculation he could be in disagreement with Chairman Paul Bulcke on the strategy.
"The year-to-date results show some of our progress, we are pleased, but not satisfied. We are far from done, there's a lot more to come," Schneider told investors on a call after Nestle posted better-than-expected organic growth for the first half of 2018.
He also underscored his good working relationship with his predecessor and current Chairman Bulcke, saying the pair were "in full agreement regarding the scope and the accelerated pace of the actions" being put into place, countering speculation Bulcke might disapprove of Schneider setting new priorities.
Nestle is under pressure from activist shareholder Third Point to overhaul the portfolio more quickly and radically to boost growth and margins.
(Reporting by Silke Koltrowitz, editing by John Revill)
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. 
