Nestlé makes changes to their board, and adds a Strategic Business Unit
The Nestlé Board of Directors has decided to integrate the Nestlé Waters business into the group’s three geographical Zones, effective Jan. 1, 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 will help Nestlé respond to rapidly changing consumer preferences, accelerate profitable growth and create synergies.
Nestlé created Nestlé 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 brands, such as S.Pellegrino, Perrier, Poland Spring and Nestlé Pure Life
Nestlé also announces changes to its Executive Board:
Maurizio Patarnello, deputy executive vice president and head of Nestlé Waters, will leave the Nestlé executive board on Dec. 31, 2019. He will continue to advise Nestlé Waters in order to ensure a smooth transition to the new organizational structure. Maurizio has a genuine passion for Nestlé Waters’ iconic brands and has overseen the launch of innovative products that meet new consumer trends.
The Nestlé Board of Directors has appointed Sanjay Bahadur, currently head of acquisitions and business development, to the executive board as deputy executive vice president, effective Jan. 1, 2020. Sanjay will head the newly created Group Strategy and Business Development function, which will support Nestlé in identifying internal and external strategic growth opportunities. The new function will also manage external partnerships and licensing agreements for the Nestlé Group and oversee the company’s corporate venture capital activities.