||Beaulieu - Lausanne, Switzerland
|Number of shareholders attending:
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The annual review and the accounts were approved. The shareholders further approved the proposed dividend of CHF 2.35 per share and the proposed capital reduction.
All proposals of the Board of Directors were approved with strong majorities.
The shareholders elected Pablo Isla, CEO of Inditex; Kasper Rorsted, CEO of adidas; and Kimberly A. Ross, former CFO of Baker Hughes, as new members of the Board. Three directors, Andreas Koopmann, Steven G. Hoch, and Naïna Lal Kidwai, did not stand for re-election as they have reached the term limit. The Board warmly thanked them for their highly appreciated services and important contributions as directors.
The shareholders elected the Chairman and all other members of the Board of Directors individually for a term of office until the end of the next Annual General Meeting. Henri de Castries, lead independent director, was appointed as Vice-Chairman of the Board.
The shareholders approved prospectively the total compensation of the Board of Directors and the Executive Board. They also accepted the Nestlé Compensation Report 2017 in an advisory vote.
In his address to the meeting, Nestlé Chairman Paul Bulcke emphasized: "Nestlé's long-term orientation comes from the belief that we must constantly anticipate, adapt and invest to prepare for the future. It is through permanent innovation and by investing for the future that our company will continue to develop in a sustainable and profitable way." He also highlighted Nestlé's roots in its home country: "The relationship between Nestlé and Switzerland is deep and mutually beneficial. Nestlé will continue to ensure a good balance between its roles as a business and as a corporate citizen at the national, regional and local levels."
Nestlé CEO Mark Schneider said: "Nestlé keeps innovating and developing its product portfolio to meet changing consumer demands and lifestyles. We are acting with a great sense of urgency, but also with prudence and always in line with our nutrition, health and wellness strategy. With this approach we target faster growth and greater profitability, in line with our 2020 objectives."
Read the Chairman and CEO addresses:
Nestlé Annual General Meeting
Report of the Board of Directors
Nomination of three new independent directors for election to the Board
Board of Directors
All biographies can be viewed in the Board of Directors section of the website (English).
Summary minutes of the Annual General Meeting
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