Nestlé AG

Board/Management Information • Nov 12, 2020

National Storage Mechanism | Additional information

RNS Number : 1026F

Nestle SA

12 November 2020

Nestlé Press Release

Vevey/Switzerland, November 12, 2020

Changes in the Executive Board of Nestlé S.A.

Patrice Bula, Head of Strategic Business Units, Marketing, Sales and Nespresso, and a member of the Nestlé Group Executive Board, will take a well-deserved retirement at the end of February 2021. Patrice Bula has had a long and distinguished career of over 40 years at Nestlé. He has worked in various positions on three different continents, most notably as the head of key markets like China, Germany and South Africa. In his current position, Patrice Bula has successfully led the Group's brand strategies, digital marketing transformation and the Nespresso business.

The Board of Directors of Nestlé S.A. has appointed Bernard Meunier, currently Head of Nestlé Purina PetCare EMENA, to succeed Patrice Bula as Head of Strategic Business Units, Marketing and Sales. He will assume this role as of March 1, 2021 and will join the Nestlé Group Executive Board. Over his 35 years with Nestlé, he has held senior leadership roles in marketing, commercial and general management, including serving as market head in Hungary, the Russia & Eurasia region and the Iberia region. As Head of Nestlé Purina PetCare EMENA, Bernard Meunier pioneered a digitally-powered, personalized pet care business model, driving significant growth. His passion for brands and sustainability continues to inspire the business.

The Board of Directors has additionally appointed David Rennie, Head of the Nestlé Coffee Brands group, to become a member of the Executive Board as of March 1, 2021. This decision reflects the strategic nature of his role, as coffee is one of Nestlé's major growth pillars. David Rennie has grown the business and strengthened Nestlé's leadership position in coffee. He launched a successful global partnership with Starbucks and has since extended the range of products at a rapid pace.

Mark Schneider, CEO, commented, "On behalf of our Board of Directors and our Executive Board, I would like to thank Patrice for the tremendous job he has done over the course of 40 years at Nestlé. We are excited that, in Bernard, we have a successor who is a dynamic leader with the proven ability to grow businesses. We are equally delighted to welcome David Rennie to the Group Executive Board. With his strategic vision, ability to execute and stellar record of success in coffee, he will make a valuable contribution."

Contacts

Media

Christoph Meier

Tel.: +41 21 924 2200

mediarelations@nestle.com

Investors

Luca Borlini

Tel.: +41 21 924 3509

ir@nestle.com

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