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
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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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