With a new boss, the world's largest food and drinks group is set for growth [Yahoo! Finance]
NESTLE S.A S/ADR (NSRGY)
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nestle.com/investors
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Source: Yahoo! Finance
As such, when a new boss shows up, investors are on high alert for signs they aim to make their mark. This is particularly the case for a company like Nestlé, the world's largest food and drinks group, and a business where most of the recent marks have been, well, let's say more like smudges. Chief executive, Laurent Freixe, a long-standing Nestlé insider who has been with the maker of KitKat, Smarties and Nespresso since 1986 and a board member since 2008, last month took charge of a company battling with a sales slowdown, in part driven by consumers' changing shopping habits. Although it expressed confidence that “real internal” sales growth was returning, targets have already been revised down twice in both July and October, from 4pc to 2pc, while margin guidance has also been cut. Blame has been put on a faster-than-expected fall in prices as inflation began to settle. Chris Beckett, head of equity research at wealth manager Quilter Cheviot, said: “The best you can say is
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