Nestle to grow its own
The board of Nestle SA is to set up the Nestle Growth Fund with £500 million to be invested over five to seven years.
This new fund is to help Nestle grow new science and nutrition businesses and ntegrate them into the group’s mainstream business units. This will contribute to the group’s expansion into health, wellness and nutrition, as the new fund will be investing in companies with products or processes in the final testing stage or about to come on the market.
Wolfgang Reichenberger, CFO of Nestle, has plans to form a partnership with Dr Gunnar Weikert, founder and chairman of Inventages Venture Capital Investments. Reichenberger will therefore leave the Nestle group in January to devote himself full-time to creating this new partnership, and to manage the fund.
Paul Polman, formerly group president of Procter & Gamble Europe, is to succeed
Reichenberger as CFO of Nestle next year. Polman, a Dutch national, brings an
extensive experience in the consumer goods sector, as well as a background in
finance.
