Daily Management Review

New head of Nestle is going to conquer the US market


12/29/2016


According to experts, conquest of the American market will be one of the main challenges for Ulf Mark Schneider, new Head of Swiss company Nestlé.



Pafcool2
Pafcool2
It is noted that Schneider, who was appointed CEO of the world’s largest manufacturer of food and beverage, will take up his office from 1 January 2017.

The Financial Times writes that Nestlé dominates the world coffee market as its hot drinks are among the most famous in the world. However, there is one weak spot - the United States.

Patrice Bula, Nestlé’s Market Head, said that they have "a major plan to expand in the United States" for the next three years. "We want to grow and be recognized," - he added.

The company is struggling with some serious competitors in the US. One of them is JAB, investment group of German billionaire Reimann, who spent nearly $ 30 billion over the past few years to build his American "coffee empire". One of taken measures was purchase of Keurig Green Mountain, worth $ 13.9 billion.

Schneider's candidacy will be proposed as a new member of the board of directors at the next annual meeting of shareholders on April 6, 2017. At the same time, Paul Bulcke, current CEO of the company, will be nominated as a candidate for the post of Chairman of the Board of Directors of Nestle.

With Bulcke and Schneider, "Nestlé can make a big step to achieve its strategic objectives, namely, world leadership in the field of food production, as well as in the sectors related to health and wellness" - said Chairman of the Board of Directors Peter Brabeck in a special press release. "Ulf Mark Schneider worked neither in "Danone", nor in "Coca-Cola", but in a company, which is active in the field of medical technology," - said in a conversation with the French-speaking Swiss newspaper "Le Temps" Jean-Philippe Bertschy, an analyst at Vontobel.

"I am proud and excited to join Nestle. This is a truly iconic global company with a great heritage and great prospects for the future ", - said Mr. Schneider.

Recall, Swiss concern "Nestle", founded in 1866, owns more than 400 factories in 86 countries around the world.

source: ft.com






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