10.09.2024

Nestlé Waters has to pay a fine of 2 million euros in France. The company has concluded a so-called judicial agreement in the public interest (Convention Judiciaire d’Intérêt Public CJIP) with the public prosecutor’s office of the city of Epinal.

The latter conducted two preliminary investigations. These concerned allegations of illegal water drilling and deception, as the Epinal public prosecutor’s office announced in a press release on Tuesday.

Nestlé Waters has also committed to remedying the ecological impact through an ambitious plan for renaturation and restoration of the ecological balance, explained public prosecutor Frédéric Nahon. Nestlé’s mineral water subsidiary will also pay compensation of 516,800 euros (477,200 Swiss francs) to several nature conservation organizations.

for more CLICK HERE SDA

Meanwhile

Nestle replaces CEO Schneider with company veteran Freixe

By and

ZURICH/LONDON, Aug 22 (Reuters) –
our emphasis
Nestle (NESN.S), opens new tab is replacing CEO Mark Schneider with company veteran Laurent Freixe, the Swiss food group said on Thursday, marking a change of leadership as it faces a challenge to grow sales.
Schneider has decided to step down as CEO and a member of the board of directors after eight years leading the world’s biggest packaged food company. The 58-year-old German moved the Swiss firm away from its decades-old category-led structure in the wake of the COVID-19 pandemic, when the company enjoyed a boom as people bought its food and drinks to eat at home during lockdowns.

But it has struggled recently, last month cutting its full-year sales outlook and saying it had to slow its price hikes as cash-strapped customers became more price conscious. Under Schneider’s leadership, Nestle’s shares hit their highest level in January 2022, before hitting a downward trajectory since May 2023. The executive appeared to lose investor confidence, as the maker of KitKat chocolate bars and Nescafe instant coffee sharply underperformed rivals like Unilever (ULVR.L), opens new tab.

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For more media coverage on Nestlé’s double standards on added sugar CLICK HERE and the fall in Nestlé India’s share price

India’s Economic Times (June 14th 2024) Nestle’s Cerelac is once again facing scrutiny; NGOs want Swiss govt to take action

 

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