Nestlé has nominated three new independent directors to join its board, including the former executive vice president and CFO of Dutch food retailer Ahold, Kimberly Ross, as well as the current CEOs of Adidas and Inditex.
Elections will take place at the company's AGM on 12 April, and the nominees are expected to replace Andreas Koopman, Steven Hoch, and Naïna Lal Kidwai, who are retiring from their positions.
Nestlé has said that the new appointments will help the company as it shifts focus to the areas of nutrition, health and wellness.
"As Nestlé advances its Nutrition, Health and Wellness (NHW) strategy for accelerated growth in targeted consumer products categories and for sustainable shareholder value creation, each of these nominees brings a unique depth of experience and expertise that will be directly relevant to Nestlé,” said Nestlé chairman Paul Bulcke.
"These highly accomplished individuals have strong records in successfully navigating today’s rapidly changing consumer environment with creativity and business acumen, leading to sustainable value creation.”
New Additions
Including the proposed nominees, Nestlé has added seven new independent directors to its board in the last three years, which the company says has augmented its diversity and experience as it seeks to make major strategic changes.
In addition to her role at Ahold, Kimberly Ross was previously CFO of oil company Baker Hughes and beauty company Avon.
The other potential new board members include CEO of sporting brand Adidas, Kasper Rorsted, who previously served as chief executive of Henkel, and Pablo Isla, head of fashion retail group Inditex, which operates brands such as Zara.
The board reshuffle is one of a number of significant changes occurring at Nestlé. Earlier this week, the company confirmed that it is selling its US confectionery business to Ferrero for $2.8 billion.
The divestment marks the first major deal for CEO Mark Schneider, who is directing the company towards the health and wellness sector. In December, the group acquired Canadian dietary-supplement business Atrium Innovations for $2.3 billion.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
