- Joined
- Sep 22, 2008
- Messages
- 85,789
- Points
- 113
Nestle SA to return US$20b to investors
image: https://apicms.thestar.com.my/uploads/images/2019/10/17/333735.jpg
Mark Schneider said Nestle will focus its portfolio on faster-growing brands of sparkling and flavored waters like Perrier and S. Pellegrino.
ZURICH: Nestle SA plans to return as much as $20 billion to shareholders by 2022 and indicated an appetite for acquisitions to help Chief Executive Officer Mark Schneider sustain faster growth and better profit margins.
Flush with cash after the $10 billion sale of a dermatology unit earlier this month, the Swiss food giant said Thursday that it will start a new share buyback program in January and may complement it with special dividends over the next three years. It’s also reorganizing its bottled-water business after a sales decline.
Schneider is wrapping up his third year at the head of the food giant, during which Nestle’s market value has increased by almost $80 billion. The maker of Nescafe and KitKat bars has bought more than 20 companies under the CEO, the first outsider to gain the position in almost a century. He has axed about 4,000 jobs involved in frozen-food delivery in the U.S. and helped put the company on track for savings of 1.9 billion francs ($1.9 billion) this year.
Nestle signaled it’s sharpening its M&A focus further as it unveiled a new management group that will seek out growth opportunities, to be led by Sanjay Bahadur, a 37-year corporate veteran who has been head of acquisitions for the past decade and finance director for Greater China before that.
Read more at https://www.thestar.com.my/business...return-us20b-to-investors#BhkjB9VQFKJ707MX.99
Sanjay Bahadur
Executive Vice President Nestlé S.A. as of January 1, 2020
Head of Group Strategy and Business Development, Nestlé S.A.
Personal
Date of birth 1959
Nationality Indian
Experience
Effective January 1, 2020 Executive Vice President, Nestlé S.A., Nestlé Headquarters,
Vevey
Head of Group Strategy and Business Development, Nestlé S.A.
2008 Head of Acquisitions and Business Development, Nestlé S.A.
2004 Chief Financial Officer, Nestlé Greater China Region
1998 Chief Financial Officer, Nestlé Turkey
1994 Chief Financial Officer, Nestlé Hong Kong
1991 Operations Controller, Nestec Ltd., Switzerland
1988 Management Accountant, Nestlé India
1984 Financial Analyst, Nestlé India
1982 Management Trainee, Nestlé India
Education Master of Management Science, Jamnalal Bajaj Institute of
Management Studies, Mumbai, India, 1982
BA (Honours) Economics, St. Stephen’s College, New Delhi, India,
1980
Languages English, Hindi
Board memberships
Board member, Froneri Ltd.
Board Member, Blue Bottle Coffee Inc. (USA)
image: https://apicms.thestar.com.my/uploads/images/2019/10/17/333735.jpg
Mark Schneider said Nestle will focus its portfolio on faster-growing brands of sparkling and flavored waters like Perrier and S. Pellegrino.
ZURICH: Nestle SA plans to return as much as $20 billion to shareholders by 2022 and indicated an appetite for acquisitions to help Chief Executive Officer Mark Schneider sustain faster growth and better profit margins.
Flush with cash after the $10 billion sale of a dermatology unit earlier this month, the Swiss food giant said Thursday that it will start a new share buyback program in January and may complement it with special dividends over the next three years. It’s also reorganizing its bottled-water business after a sales decline.
Schneider is wrapping up his third year at the head of the food giant, during which Nestle’s market value has increased by almost $80 billion. The maker of Nescafe and KitKat bars has bought more than 20 companies under the CEO, the first outsider to gain the position in almost a century. He has axed about 4,000 jobs involved in frozen-food delivery in the U.S. and helped put the company on track for savings of 1.9 billion francs ($1.9 billion) this year.
Nestle signaled it’s sharpening its M&A focus further as it unveiled a new management group that will seek out growth opportunities, to be led by Sanjay Bahadur, a 37-year corporate veteran who has been head of acquisitions for the past decade and finance director for Greater China before that.
Read more at https://www.thestar.com.my/business...return-us20b-to-investors#BhkjB9VQFKJ707MX.99
Sanjay Bahadur
Executive Vice President Nestlé S.A. as of January 1, 2020
Head of Group Strategy and Business Development, Nestlé S.A.
Personal
Date of birth 1959
Nationality Indian
Experience
Effective January 1, 2020 Executive Vice President, Nestlé S.A., Nestlé Headquarters,
Vevey
Head of Group Strategy and Business Development, Nestlé S.A.
2008 Head of Acquisitions and Business Development, Nestlé S.A.
2004 Chief Financial Officer, Nestlé Greater China Region
1998 Chief Financial Officer, Nestlé Turkey
1994 Chief Financial Officer, Nestlé Hong Kong
1991 Operations Controller, Nestec Ltd., Switzerland
1988 Management Accountant, Nestlé India
1984 Financial Analyst, Nestlé India
1982 Management Trainee, Nestlé India
Education Master of Management Science, Jamnalal Bajaj Institute of
Management Studies, Mumbai, India, 1982
BA (Honours) Economics, St. Stephen’s College, New Delhi, India,
1980
Languages English, Hindi
Board memberships
Board member, Froneri Ltd.
Board Member, Blue Bottle Coffee Inc. (USA)
