November 19, 20240 Comments

Nestle to cut costs, boost marketing under CEO Freixe By Reuters

VEVEY (Reuters) -Nestle will boost advertising and marketing, trim costs, carve out its water and premium drinks businesses into a standalone global unit, and implement other changes to drive growth under new chief Laurent Freixe, the company said on Tuesday. The Swiss food giant aims to achieve cost savings of at least 2.5 billion Swiss francs ($2.83 billion) by 2027, in addition to ongoing savings of around 1.2 billion Swiss

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November 11, 20240 Comments

Nestle’s KitKat signs Formula 1 deal as CEO Freixe seeks broader appeal By Reuters

By Richa Naidu LONDON (Reuters) – Nestle (NS:)’s KitKat brand has signed a global sponsorship deal with Formula 1 as new Chief Executive Laurent Freixe seeks to change the way the world’s biggest food company markets its core, multi-billion-dollar brands. A senior executive told Reuters exclusively that the Formula 1 deal had been struck to cover the period between late 2025 and 2028, and the aim was to improve KitKat’s

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