TIDM76TQ
RNS Number : 9266O
Nestle SA
13 October 2021
Nestlé press release
.......................................
[Ad hoc announcement pursuant to art. 53 SIX Listing Rules]
Vevey/Switzerland, October 13, 2021
Nestlé sharpens geographic focus, creates Zones North America
and Greater China
The Nestlé Board of Directors has approved the creation of new
geographic Zones, as of January 1, 2022. The new architecture will
strengthen the company's market-led approach and further Nestlé's
ability to win in a rapidly changing environment. The structure
also underscores the company's deep commitment to succeeding in all
parts of the world, including its two top markets North America and
Greater China.
The company will be organized into five Zones as follows:
-- Zone North America (NA) is comprised of the United States,
the Group's largest market, and Canada. Together they represent CHF
24.7 billion in annual sales.
-- Zone Latin America (LATAM) includes Brazil and Mexico, which
are among Nestlé's leading markets by sales. Zone LATAM also
includes the Caribbean region and represents CHF 9.2 billion in
annual sales.
-- Zone Europe (EUR) continues to develop its category-focused
operating model, which has led to broad-based market share gains.
With CHF 17.7 billion in annual sales, Zone Europe continues to
show strong momentum and innovation capabilities.
-- Zone Asia, Oceania and Africa (AOA) will now include the
Middle East and North Africa (MENA) Region. Zone AOA represents CHF
17.5 billion in annual sales.
-- Zone Greater China (GC) is one of the fastest-moving food and
beverage markets in the world and offers significant growth
potential for Nestlé. Zone GC represents CHF 5.7 billion in annual
sales.
The above sales figures exclude Nestlé's globally managed
businesses Nespresso and Nestlé Health Science, which represented
CHF 9.2 billion in annual sales in 2020. Nestlé will report the
sales and growth numbers of the new Zone structure for the first
time on April 21, 2022.
Mark Schneider, Nestlé S.A. CEO, said: "With the new Zone
structure, we will significantly sharpen our geographic focus to
drive sustained profitable growth everywhere we operate. This move
will bring us closer to consumers and customers, unlock new
business opportunities and enable us to be even more agile in a
fast-moving consumer environment."
As a result of the new Zone structure, the company announces the
following changes to the Executive Board, effective January 1,
2022:
Chris Johnson , Executive Vice President and CEO Zone Asia,
Oceania and sub-Saharan Africa, will retire from the Executive
Board on December 31, 2021. He will continue to advise the newly
formed Zone AOA during the transition period and will leave the
company on January 31, 2022. During his highly successful 38-year
career at Nestlé, Chris has held key leadership roles in markets,
businesses and global functions, including the development of
Nestlé's first global information technology (IT) solution.
Steve Presley , current Chairman and CEO Nestlé USA, will join
the Executive Board as Executive Vice President and CEO Zone North
America. Steve joined Nestlé in 1997 as a controller. He then held
various finance and management roles in the USA. Prior to becoming
Chairman and CEO of Nestlé USA in 2018, Steve served as Chief
Financial Officer. Under his leadership, Nestlé USA returned to
impressive growth.
David Zhang, current CEO of Totole, Nestlé's highly successful
food seasoning business, and Business Executive Officer for Food in
Greater China, will join the Executive Board as Executive Vice
President and CEO Zone Greater China. In 2000, David started his
career with Wyeth China, where he held various roles in finance. He
came to Nestlé in 2012, when the company acquired Wyeth, and served
as Head of Grocery Retail Sales at Nestlé China in 2015 and 2016.
Rashid Qureshi, current Market Head of Greater China Region, has
decided to leave the company after a long and distinguished career
across multiple geographies and will hand over responsibility of
the region on December 31, 2021.
Remy Ejel , current Market Head Middle East North Africa, will
join the Executive Board as Executive Vice President and CEO Zone
AOA. Remy joined Nestlé in 1998 as a product manager and served the
company in various roles in the Middle East and in Africa. Remy was
Market Head of South Africa from 2016 to 2018 and Market Head of
Central and West Africa Region from 2018 to 2020.
Laurent Freixe will lead the newly established Zone LATAM as
Executive Vice President and CEO Zone LATAM. Marco Settembri will
lead Zone Europe as Executive Vice President and CEO Zone EUR.
Building on their highly successful track record as Zone CEOs and
Nestlé Executive Board Members, Laurent and Marco will provide
essential continuity and inspired leadership in these important
geographies going forward.
Nestlé Chairman Paul Bulcke added: "Mark and the team have the
Board's full support in bringing Nestlé's Zone structure to the
next level. This is an important and timely change that will
strengthen local relevance and implementation of our company's
strategy.
I would like to express my sincere gratitude to Chris, a dear
colleague and friend, for his outstanding leadership and dedication
to Nestlé. I would also like to thank Laurent and Marco for the
excellent performance in their Zones, as well as their foresight
and full support in evolving the Zone structure. At the same time,
please join me in welcoming our newly appointed Executive Board
members Steve, David and Remy. With its deep market knowledge, our
expanded leadership team is well positioned to take advantage of
future growth opportunities globally."
Contacts:
Media Christoph Meier Tel.: +41 21 924 22 00
mediarelations@nestle.com
Investors Luca Borlini Tel.: +41 21 924 3509 ir@nestle.com
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END
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