Nestle chairman says no major restructuring planned after shake-up

NO major restructuring is planned at Nestle, following the Swiss foodmaker’s decision to replace chief executive officer Mark Schneider with company veteran Laurent Freixe, chairman Paul Bulcke was quoted as saying by Swiss newspaper Le Temps on Friday (Aug 23).

“There is no hidden agenda, no major restructuring planned,” Bulcke told Le Temps in an interview in which he dismissed the suggestion that Freixe, 62, could be a stop-gap CEO.

Asked whether the company planned divestitures or acquisitions, Bulcke said Nestle’s main focus will be on stimulating the current portfolio and on organic growth.

“There could be, of course, adjustments,” he said. “But again, the top priority is organic growth.” REUTERS