We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Nestle CEO Says Corporate Growth Should Take Priority Over Short-Term Profits

April 6, 2017: 12:00 AM EST
Nestlė’s CEO says the cost-cutting fad among food and beverage companies – think Kraft Heinz, Anheuser-Busch, Unilever, etc. – undermines efforts to grow. Ulf Schneider, an outsider from the healthcare industry who became CEO on January 1, told shareholders that the quest for short-term profit “is not sustainable.” His company certainly puts a priority on efficient business operations, he noted, but it is also hiking investment in its fastest-growing businesses and plans to expand digital ventures and online operations, which have experienced 20 percent growth in sales. Nevertheless, Schneider said, Nestlė will do whatever it has to where growth is slow.  [ Ulf Schneider, image credit: © Nestlė  ]
Corinne Gretler, "Nestle's New CEO Challenges Food Industry's Cost-Cutting Mantra", Bloomberg Markets, April 06, 2017, © Bloomberg L.P.
Comment & Opinion
Companies, Organizations
Market News
Marketing & Advertising
Developed by Yuri Ingultsov Software Lab.