Nestle Makes Changes to Executive Board, Waters Unit
October 17 2019 - 02:35AM
Dow Jones News
By Max Bernhard
Nestle SA (NESN.EB) said Thursday that the head of its waters
unit is leaving and that it would change how the business is
integrated into its group structure.
The Swiss consumer-goods company said Maurizio Patarnello,
deputy executive vice president and head of Nestle Waters, would
leave its executive board at the end of the year. He will continue
to advise the unit on the transition into a new organizational
structure, the company said.
"The Nestle board of directors has decided to integrate the
Nestle Waters business into the group's three geographical zones,
effective Jan. 1, 2020," Nestle said. The company is setting up a
dedicated "strategic business unit" which will be headed by Patrice
Bula, executive board member and head of strategic business units,
marketing and sales, it said.
The move will enable Nestle to better respond to changing
consumer preferences, accelerate profitable growth and create
synergies, Nestle said.
Meanwhile, Nestle said it has appointed Sanjay Bahadur to its
executive board as a deputy executive vice president, effective
Jan. 1. He will be overseeing the newly created group strategy and
business development function.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
October 17, 2019 02:20 ET (06:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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