New Nestle CEO moves to sell US sweets brands
He aims to boost group's health strategy, focus on fastest growing businesses such as coffee, pet food
Washington
NESTLE'S new chief executive officer is putting the world's biggest food company on a diet, moving to shed its US confectionery business as he seeks growth from healthier and more profitable businesses.
Half a year after taking the helm at the Vevey, Switzerland-based company, Mark Schneider put brands such as Butterfinger and BabyRuth up for sale late on Thursday. Analysts said the move signalled that the new chief, with a background in health care, was serious about transforming a company wrestling with the slow growth of the packaged food industry.
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