Nestle Makes Changes to Executive Board, Waters Unit

Date : 10/17/2019 @ 6:35AM
Source : Dow Jones News
Stock : Nestle S.a. (PC) (NSRGY)
Quote : 106.01  1.52 (1.45%) @ 9:30PM

Nestle Makes Changes to Executive Board, Waters Unit

Nestle S.a. (PC) (USOTC:NSRGY)
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   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; @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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