Press Release: Nestle: Nestlé announces changes to its organization and its Executive Board

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[Ad hoc announcement pursuant to Art. 53 LR]

This press release is also available in Français (pdf) https://www.globenewswire.com/Tracker?data=82A_0ZyYhqPf9EKQ9BqGz2Svy-eoUyXG7yJJagmPBym3vTClNpqqioe0Pp-I3yRNoxa7gzdnZ9Wj65LnC2fENBXkzZ2lgDBIz9Pp2FznOWXMJbzFNAUt36PNa1nPrV2LxhaNXxw7jkeP7s3LyW9mFGYrT-FSb230s0WKiub_KrdJhLqXvuYr-HDfLZFlTOIz and Deutsch (pdf) https://www.globenewswire.com/Tracker?data=uUGTCUM-97_De0WuAfmfPtV3oDmQeqMbnk23GbughCxI0FZ2zfGEOjUTcxTY5irviN7z_5MWK9DlNPnuHTk_a2UVBuifr6I9-qybqCdTg7pFT8Ip_BL-XOXZOcB35XVWJBZU_CBKMC60HMSLivr95HWs709ZodOrJT9nOMMRSJwgnJVsKLBvucOev0Nhok-g

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Nestlé announces changes to its organization and its Executive Board

The Nestlé Board of Directors has approved changes to the company's organization, effective as of January 1, 2025. As a result, Nestlé is also announcing changes to its Executive Board.

-- Zone Latin America (LATAM) and Zone North America (NA) will merge to form

Zone Americas (AMS), which will be led by Steve Presley. He will relocate

to Nestlé's headquarters in Vevey, Switzerland.

-- Zone Greater China Region (GCR) will become part of Zone Asia, Oceania

and Africa (AOA), under the leadership of Remy Ejel. David Zhang will

step down from the Executive Board and will remain Chairman and CEO of

the Greater China Region.

-- Zone Europe (EUR) will continue to be led by Guillaume Le Cunff and

remains unchanged.

Laurent Freixe, Nestlé CEO, said: "A leaner Executive Board structure and close collaboration of the leadership team at the headquarters will increase simplicity, speed up decision-making and strengthen the momentum behind global initiatives. We will continue to build on the strengths of our Market Heads to ensure consistent in-market execution across the Group."

-- Bernard Meunier has decided to step down from the Executive Board on

March 31, 2025, and will lead strategic projects for the Group. David

Rennie, currently Head of Nestlé Coffee Brands will succeed Bernard

Meunier as the Head of Strategic Business Units (SBUs) and Marketing and

Sales. Nestlé Coffee Brands, with the exception of Nespresso, will

be integrated into the SBU organization.

-- Nespresso is led by Philipp Navratil. He will join the Executive Board

and now report directly to the Nestlé CEO. Philipp Navratil is known

for his ability to inspire and motivate people. He has extensive global

experience across various roles and a profound understanding of

Nestlé.

-- Nestlé Health Science will continue to be led by Anna Mohl.

Starting in 2025, Nestlé's reporting will comprise five segments: Zone AMS, Zone AOA, Zone EUR, Nestlé Health Science and Nespresso. The company will also continue to voluntarily report sales performance each quarter for North America and for Latin America within Zone AMS and for Greater China within Zone AOA.

Further changes relate to other areas of responsibility:

-- Béatrice Guillaume-Grabisch, Head of Human Resources and Business

Services, has decided to step down and to pursue new professional

opportunities. Her area will be split into its different functions to

underpin the importance of each of them. Anna Lenz, currently Country

Manager of Nestlé Portugal, will lead Human Resources. She will join

the Executive Board. Anna Lenz's inclusive leadership style cultivates

collaboration and empowers her team to achieve outstanding results.

Chris Wright, Chief Information Officer, responsible for all information

technology and digitalization, will now report to the Nestlé CEO

without holding a position on the Executive Board. Hans-Ulrich Mayer

will remain in charge of Business Services and report to CFO Anna Manz.

-- Antonia Wanner, who leads the Sustainability Unit, will now report

directly to the Nestlé CEO without holding a position on the

Executive Board.

Laurent Freixe added, "With these organizational changes, all the leaders of key units driving our performance and our transformation will now report directly to me. This is crucial, as we sharpen our focus on consumers and customers and restore investment in our brands and in innovation to expand market share and accelerate our performance. Going forward, we are also placing a greater emphasis on Nestlé's digital transformation into a real-time, end-to-end connected, data- and AI-powered organization. I am confident these changes will optimally position Nestlé for future success.

"On behalf of our entire team, I extend my sincere gratitude to all colleagues for their outstanding work, dedication and commitment. I want to express my heartfelt thanks to Béatrice for her long-standing service to our company and her great achievements. We wish her all the best. Meanwhile, we welcome Anna and Philipp to the Executive Board and look forward to working with them."

Bio Anna Lenz (pdf, 119Kb) https://www.globenewswire.com/Tracker?data=Tgl315L49qlxiFBaAkGUX2c0NIsbyLa_FNRSgTjicm6R1veUtJSYyFobfkAr3Blyx9iEDKCa01xJeh6tb4oNuRLUYM4ioj0CaQ8m9C1PdDjGt9E2h0xqQ_6ckGbBWT2vkTj-BtiMuxivihCH_4Mow1szAjDrxnXbXDkZvwsy1Ow=

Bio Philipp Navratil (pdf, 228Kb) https://www.globenewswire.com/Tracker?data=Tgl315L49qlxiFBaAkGUX4cqrSFOrakw-qPvW7rUpuSaWr01piAoUUlRcWXRHicZXsm7PFPPTQGFsiiVLcq9A1W2MTcQev8v6MUqYIlpEOf_qb02T_5uVvk3LZQ_uWvXAWRxKQMtDl8_04MLTo_4zzu8NkcJWwJeWCsrZ_57ABuxYJxoyxKi6sjBKdDBezYg

Executive Board chart (pdf, 140Kb) https://www.globenewswire.com/Tracker?data=aN8i67dw4nsdYcjYdj9DH1vMD4YSKzyqPygjGii7RhIGv3P5_imvvg0KdLSb57zloihVPDlxSIKwnbI2QarjUqEnKGSjI6sFXfyPq4oe1Y6LHkBol4N745MfhGSJjLQH9Tx87vzU3Mhbe1nB0kei4NbTPwQswb8c8KYCFWylzPtd37KGP8bxRaSRm68suLd4

Contacts:

Media:

Christoph Meier Tel.: +41 21 924 2200

mediarelations@nestle.com https://www.globenewswire.com/Tracker?data=PUC0AqUHAdRb_USPF06ilWF6HWFZ47PMdGsjOjwrYM3SolkJdJHjxFaa5Fuv0TnDi6j9KhkdV1uxSE4FRRrQdU7N57tV6oU7ECoAQyXNtkev_hHEgKzROShEnNlzjvxB

Investors:

David Hancock Tel.: +41 21 924 3509

ir@nestle.com https://www.globenewswire.com/Tracker?data=vrOtVv9Q8krK_T10XYLJjdb-7hwMtA4vZ8yhFbjPHxysrHWFCn-qAkqXWTgnMx097Fg_7RPhd9mDF--zx90IDw==

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October 17, 2024 01:05 ET (05:05 GMT)