SWITZ: Nestlé set to name new CEO
Nestlé is to name its new chief executive tomorrow (20 September).
The Swiss food giant, which owns beverage brands including Nestea iced tea and Perrier bottled water, will make an announcement tomorrow afternoon following a board meeting.
Current chairman and CEO Peter Brabeck-Letmathe is to step down as chief executive but will remain as a "non-executive but active" chairman, a Nestlé spokesman told just-drinks today.
There has been fervent speculation that Nestlé CFO Paul Polman will replace Brabeck-Letmathe and take the top job. However, the Nestlé spokesman refused to be drawn on the speculation.
The spokesman said the new CEO would take up the role on 10 April next year after the company's AGM.
Brabeck-Letmathe, 62, has been CEO since 1997 and was elected chairman in 2005. He has spent almost 40 years at the company, joining its Austrian unit in 1968.
Throughout the 1980s, Brabeck-Letmathe held managerial positions in Latin America. In 1992, he was appointed executive vice president with global responsibility for a range of Nestlé's food businesses.
The spokesman said Brabeck-Letmathe had indicated in 2005 that he would step down from his role as chairman.
The spokesman added that Nestlé would announce further management changes - in the aftermath of the appointment of its CEO - on 18 October.
A recent BBC TV documentary in the UK has re-opened the debate about the environmental costs of bottled water. Annette Farr believes the documentary was one-sided and irresponsible....
Pernod Ricard has confirmed a change of senior brand manager for Champagne Perrier-Jouët in the UK....
The top ten most visited stories on just-drinks this week:...
Pernod Ricard has lined up a second level of investment for its Champagne units....
The Laurent-Perrier Group has posted a slower lift in sales as the first nine months of its fiscal year have progressed....
Laurent-Perrier has lowered its full-year forecasts, due to sliding volumes in its third quarter....
The Spanish wine and brandy company Gonzalez Byass has announced the appointment of two new staff to its UK team....
Nestlé Waters has had its request to have the "Source Perrier" name dissociated from its original source in Les Bouillens, in Vergèze, rejected by a court in Nimes, which upheld a provisional ruling....
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Diageo puts Beckham centre stage in Haig Club ad
- Smirnoff Ice gets India launch