Nestlé Reshuffles Executive Board

By Brian Blackstone

ZURICH -- Nestlé SA on Monday announced a reshuffling of its executive board, as the food and beverage giant preps for new leadership at the beginning of next year.

The company said that executive vice president Luis Cantarell, who heads the European, Middle East and North Africa zone, will retire at the end of the year.

He will be succeeded on Jan. 1 by Marco Settembri, who currently runs the company's waters division. Mr. Settembri will in turn be succeeded in his position by Maurizio Patarnello, currently Market Head of Nestlé's Russia and Eurasia region.

In June, Nestlé tapped Ulf Mark Schneider -- who had run a Germany-based health-care company -- to be its new chief executive, a move that underscored the increasing emphasis on health and nutrition from the owner of Kit Kat candy bars, Perrier mineral water and DiGiorno frozen pizza.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

September 26, 2016 13:45 ET (17:45 GMT)

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