Vevey / CH. (nsa) The Board of Directors of Swiss Nestle S.A. has decided to integrate the Nestle Waters business into the Group’s three geographical Zones, effective January 01, 2020. A dedicated Strategic Business Unit (SBU) will be created and report to Patrice Bula, member of the Executive Board and Head of Strategic Business Units, Marketing + Sales. The new Waters SBU will ensure strategic alignment globally and manage core global functions.
This move, subject to employee consultation where required, will help utilize Nestle’s strong local expertise, better respond to rapidly changing consumer preferences, accelerate profitable growth and create synergies.
Nestle created Nestle Waters in 1992, following the acquisition of Source Perrier S.A. The business saw a rapid and successful international expansion to become the world’s leading bottled water company. It now has almost 50 renowned and iconic brands, such as S.Pellegrino, Perrier, Acqua Panna, Poland Spring and Nestle Pure Life. With their quality and taste, these products offer a convenient and safe way to drink water and hydrate at every occasion. The waters business is an integral part of Nestle’s nutrition, health and wellness strategy and is one of the company’s high-growth product categories.
Nestle also announces changes to its Executive Board
Maurizio Patarnello, Deputy Executive Vice President and Head of Nestle Waters, will leave the Nestle Executive Board on December 31, 2019. He will continue to advise Nestle Waters in order to ensure a smooth transition to the new organizational structure. Maurizio has a genuine passion for Nestle Waters’ iconic brands and has overseen the launch of innovative products that meet new consumer trends. The Board of Directors and the Executive Board express their sincere gratitude and appreciation to Maurizio for his leadership at Nestle Waters.
The Nestle Board of Directors has appointed Sanjay Bahadur, currently Head of Acquisitions and Business Development, to the Executive Board as Deputy Executive Vice President, effective January 01, 2020. Sanjay will head the newly created Group Strategy and Business Development function, which will support Nestle in identifying internal and external strategic growth opportunities. The new function will also manage external partnerships and licensing agreements for the Nestle Group and oversee the company’s corporate venture capital activities. Sanjay joined Nestle in June 1982. He has extensive market experience having worked in India, Switzerland, Hong Kong, Turkey and China. He was CFO for the Greater China Region prior to assuming his role as Head of Acquisitions and Business Development.