Analysis-Nestle CEO Freixe's turnaround plan faces challenge from weak consumer [Yahoo! Finance Canada]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance Canada
By Richa Naidu LONDON (Reuters) - Nestle's plans under new CEO Laurent Freixe to restructure and sharpen its focus on its top brands were welcomed by investors, but executing a turnaround strategy against a backdrop of weak consumer demand will be a tough task. After replacing Mark Schneider as CEO last month, Freixe set out plans on Thursday to revamp the executive board, revive Nestle's core 31 "billionaire brands", become price competitive again and win back market share through innovation and marketing. He relayed his strategy to investors as Nestle - owner of brands including Nescafe, Kit Kat, Sanpellegrino and Purina pet food - cut its full-year sales outlook after weaker than expected nine-month organic sales growth. Freixe told an investor call that Nestle is operating in "an environment characterized by softening consumer demand," particularly in North America and Europe, the company's biggest markets. In the first nine months of the year, the Swiss-based group was
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