Nestle CEO to Separate Water Brands Into Standalone Business [Yahoo! Finance]
NESTLE S.A S/ADR (NSRGY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Most Read from Bloomberg Paris to Replace Parking Spaces With Trees New York's Transit Agency Approves $9 Congestion Toll In Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited Lift Amtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC Service A Bug's Eye View of Mexico City's Modernist Architecture Creating a freestanding arm for brands like Perrier and Acqua Panna could be a prelude to a sale or spinoff of the water business, which has seen slowing organic growth in recent quarters. Freixe also plans a marketing push to try to restore the luster of Nestle's other brands, a move that looks set to tighten profit margins in the medium term. A 38-year company veteran, Freixe took over in September after the ouster of his predecessor Mark Schneider, who led Nestle for almost eight years. The new CEO last month lowered the company's target for organic sales growth this year to around 2%, which would be the lowest annual rate since at least the turn of the century
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