Nestle to refocus on core business, says CEO Freixe

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Nestle to refocus on core business, says CEO Freixe

STORY: Swiss food giant Nestle will refocus on its core business after diversification into different types of products “weakened the fabric” of the company.

:: File

That’s according to its boss Laurent Freixe, who took over the company in September.

He told the Financial Times that straying into segments like health supplements meant its core brands in coffee, petcare and food were neglected.

He said he only saw merits in slimming down the group’s portfolio in places where Nestle wasn’t in a position to win.

In another interview earlier this week, Friexe revealed that Nestle, owner of brands including Nescafe and KitKat, is recovering market share in the U.S.

That’s despite concerns of impact from President Donald Trump’s trade tariffs…

… and American consumers feeling unsettled by a slowdown in the economy.

Leading with an attitude that “M&A is not the strategy”, Friexe branded Nestle as “on the right track.”

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