Annual General Meeting

Notes

Press release

Voting results

Summary minutes of the Annual General Meeting

Speeches

Election of two new members to the Board

Invitation

Reports of the Board of Directors

Board of Directors

Voting instructions

Documents

Notes

The annual review and the financial statements were approved, as were the proposed dividend of CHF 2.80 per share and the capital reduction. The dividend represented an increase of 5 centimes over the previous year, marking 27 consecutive years of dividend growth.

Nestlé S.A. shareholders approved all of the Board of Directors' proposals.

Luca Maestri, Chief Financial Officer at Apple, and Chris Leong, Chief Marketing Officer at Schneider Electric, were elected to Nestlé S.A.'s Board of Directors.

Ann M. Veneman retired from the Board after 11 years of highly appreciated service. Kasper Rorsted decided not to stand for re-election. On behalf of the Board, the Chairman wholeheartedly thanked Ann M. Veneman and Kasper Rorsted for their valuable contributions.

The Chairman and all other members of the Board of Directors were re-elected individually for a term of office until the end of the next Annual General Meeting. Shareholders also elected the members of the Compensation Committee for a one-year term.

Shareholders also approved the total compensation budgets for Nestlé's Board of Directors and Executive Board.

Ernst & Young Ltd was re-elected as statutory auditors for the financial year 2022.

Press release

Voting results

Summary minutes of the Annual General Meeting

Speeches

Election of two new members to the Board

Invitation

Report of the Board of Directors

Board of Directors

Voting instructions

Documents

Notes

The annual review and the accounts were approved, as were the proposed dividend of CHF 2.75 per share and the planned capital reduction.

Nestlé S.A. shareholders approved all of the Board of Directors’ proposals.

Lindiwe Majele Sibanda, a Professor and the Director and Chairwoman of the African Research Universities Alliance Centre of Excellence in Sustainable Food Systems at the University of Pretoria, South Africa, was elected to Nestlé’s Board of Directors.

Ursula Burns, a Nestlé Board member since 2017, did not stand for re-election. On behalf of the Board, the Chairman wholeheartedly thanked Ursula Burns for her expert advice, valuable perspectives and significant contributions.

The Chairman and all other members of the Board of Directors were elected individually for a term of office until the end of the next Annual General Meeting. Shareholders also elected the members of the Compensation Committee for a one-year term.

Shareholders also approved the total compensation budgets for Nestlé's Board of Directors and Executive Board. Fifteen percent of the Executive Board members' short-term bonus will be linked to the achievement of Environment Social Governance-related objectives.

Following the publication of Nestlé’s detailed, time-bound roadmap to achieve net zero greenhouse gas emissions by 2050, Nestlé sought the support of its shareholders for its plan. The advisory vote was put on this year’s agenda ahead of upcoming changes to Swiss legislation that will stipulate the requirements for non-financial reporting. Shareholders voted in favor of the roadmap

Ernst & Young Ltd was re-elected as statutory auditors for the financial year 2021.

Nestlé Chairman Paul Bulcke said, "Due to the pandemic we held our Annual General Meeting today without shareholders. I am proud of how Nestlé has proven to be reliable in these challenging times and thank our shareholders for their continued engagement and support. We look forward to seeing them again next year."

Press release

Voting results

Summary minutes of the Annual General Meeting

Speeches

Election of new member to the Board

Invitation

Report of the Board of Directors

Board of Directors

Voting instructions

Documents

Related information

Notes

The annual review and the accounts were approved, as were the proposed dividend of CHF 2.70 per share and the planned capital reduction.

All proposals of the Board of Directors were approved with strong majorities.

The shareholders elected Ms Hanne Jimenez de Mora, Co-founder and Chairperson of management consulting company a-connect (group) ag and formerly a partner with McKinsey & Company, as a new member of the Board.

Mr Beat W. Hess did not stand for re-election to the Board after twelve years of dedicated service. On behalf of the Board, the Chairman warmly thanked Mr Hess for his highly appreciated advice and important contributions as director.

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. They also elected the members of the Compensation Committee for a one-year term.

Nestlé Chairman Paul Bulcke said: "Our Annual General Meeting at Lausanne-Beaulieu took place today as planned, although unfortunately without the presence of shareholders. I am truly sorry that we were unable to meet in person this year because of the pandemic that is affecting us all. I want to thank our shareholders for their understanding and for their continued trust and support of our company. I very much look forward to seeing them in person again next year under normal circumstances."

Furthermore, Ernst & Young Ltd was appointed as auditors for the 2020 financial statements of Nestlé S.A. and the consolidated financial statements of the Nestlé Group.

Press release

Voting results

Summary minutes of the Annual General Meeting

Speeches

Election of new independent director to the Board

Invitation

Report of the Board of Directors

Board of Directors

Voting instructions

Documents

Related information

Notes

The annual review and the accounts were approved. The shareholders further approved the proposed dividend of CHF 2.45 per share and the proposed capital reduction.

All proposals of the Board of Directors were approved with strong majorities.

The shareholders elected Dick Boer, former President and CEO of Ahold Delhaize N.V., and Dinesh Paliwal, President and CEO of Harman International Industries Inc., a subsidiary of Samsung Electronics Co., Ltd., as new members of the Board. Two directors, Jean-Pierre Roth and Ruth Oniang’o, did not stand for re-election as they have reached the age limit set out in the Board Regulations. 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.

he shareholders approved prospectively the total compensation of the Board of Directors and the Executive Board. They also accepted the Nestlé Compensation Report 2018 in an advisory vote.

In his address to the meeting, Nestlé Chairman Paul Bulcke said: "In today’s context, Nestlé’s Nutrition, Health and Wellness strategy is more relevant than ever. It clearly meets the needs and tastes of our consumers and society. It can also help address one of the major challenges we will be facing by 2050: to feed a global population of 10 billion people in a healthy and sustainable manner." He added: "This strategy is inspired by the purpose that has driven Nestlé for over 150 years: enhancing quality of life and contributing to a healthier future. We are a company that operates on the basic principle that we do business to create shared value. Value for you, our shareholders, and value for society."

Commenting on the past year, Nestlé CEO Mark Schneider said: "Our continuous efforts over the past years are bearing fruit. Organic growth and profitability improved significantly. We also took important decisions which led to a sharpening of our strategy focused on food, beverages and nutritional health products.” Speaking about the various sustainability initiatives launched last year, he highlighted Nestlé’s commitment to tackle plastic waste: "We have a strong commitment to the environment. Tackling plastic pollution is an urgent priority for us. It requires a broad set of well-coordinated actions and sustained effort. There is no simple solution to this complex problem."

Speeches

Press release

Invitation

Report of the Board of Directors

Nomination of two new independent directors for election to the Board

Board of Directors

Voting instructions

Documents

Voting results

Summary minutes of the Annual General Meeting

Notes

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."

Speeches

Press releases

Invitation

Report of the Board of Directors

Voting instructions

Nomination of three new independent directors for election to the Board

Board of Directors

Documents

Voting results

Summary minutes of the Annual General Meeting

Notes

The annual review and the accounts were approved and the shareholders agreed to the discharge of the Board of Directors and the Management. The shareholders further approved the proposed dividend of CHF 2.30 per share.

All proposals of the Board of Directors were approved with strong majorities. The shareholders elected the members of the Board of Directors individually, for a term of office until the end of the next Annual General Meeting.

After serving the company for almost 50 years, including 11 years as CEO and 12 years as Chairman, Peter Brabeck-Letmathe did not stand for re-election after reaching the mandatory retirement age. The Board of Directors thanked him warmly for his many years of service to Nestlé and appointed him as Chairman Emeritus. As such he will be available for advice upon request.

The Board of Directors thanked Paul Bulcke for his nine years of service as CEO of Nestlé. The shareholders elected Paul Bulcke as Chairman of the Board of Directors. They further elected Nestlé CEO Ulf Mark Schneider and Ursula M. Burns, Chairman of the Board of Xerox Corporation, as new members of the Board.

The shareholders approved prospectively the total compensation of the Board of Directors and the Executive Board in binding votes. They also accepted the Nestlé Compensation Report 2016 in a separate advisory vote.

The Board decided to appoint Henri de Castries as Lead Independent Director, who will chair Board meetings and in camera sessions when the Chairman is not present or conflicted.

In his address to the meeting, Nestlé Chairman Peter Brabeck-Letmathe said: "At a time when we are seeing more and more consolidation and drastic cost cuts in our industry, it is important to reaffirm Nestlé’s drive to create value through growth. Growth that is sustainable and profitable. In order to be able to invest for growth, particularly through innovation and renovation, we will have to increase our operational efficiency to free up the resources we need.”

He concluded: “I would like to thank the Board of Directors for their commitment, their expertise and their support. I would also like to thank you, the shareholders, for your loyalty and commitment to Nestlé. Over the past 20 years, I have had the honour and the pleasure to lead and then to chair our wonderful company. Throughout all these years, you have given me your support and your trust. I sincerely appreciate that.”

On his election as Chairman, Paul Bulcke said: “I would like to thank you for the trust you have put in me by electing me as Chairman, a great responsibility and even greater motivation. I will continue to put my experience and knowledge at the service of Nestlé, leading the Board and supporting Ulf Mark Schneider as he takes the company forward as CEO.”

After reviewing the Group’s 2016 results, Nestlé CEO Ulf Mark Schneider said: “Continuity and change. These two words describe the way forward for Nestlé. Continuity - building on the strong nutrition, health and wellness strategy of our company. Change - increasing our speed and simplifying the way we work.”

He added: “We at Nestlé believe that sustained value creation is the result of both growth and operating efficiency. These are my two priorities for the company. Together with a healthy sense of urgency, they will ensure the continued success of Nestlé. I am confident that Nestlé has what it takes to be successful: a robust strategy, unparalleled global reach, industry-leading expertise and, above all, our people - the thousands of colleagues around the world who make Nestlé.”

After reviewing the long and successful career of Peter Brabeck-Letmathe at Nestlé, Vice-Chairman of the Board Andreas Koopmann said: “For all of these achievements, Mr Chairman, allow me on behalf of the Board of Directors, the Executive Board, the employees, and – I am sure – the vast majority of shareholders present, to simply say: thank you very much.”

Speeches

Press release

Invitation

Report of the Board of Directors

Proxies and voting instructions

Board of Directors

Related information

Voting results

Summary minutes of the Annual General Meeting

Notes

The annual review and the accounts were approved and the shareholders agreed to the discharge of the Board of Directors and the Management. The shareholders further approved the proposed dividend of CHF 2.25 per share.

All proposals of the Board of Directors were approved with strong majorities.

The shareholders elected all members of the Board of Directors individually, for a term of office until the end of the next Annual General Meeting. Daniel Borel was not standing for re-election. The Board thanked him for his highly appreciated services provided to Nestlé.

The shareholders elected Peter Brabeck-Letmathe as Chairman of the Board of Directors and elected each member of the Compensation Committee individually.

The shareholders approved prospectively the total compensation of the Board of Directors and the Executive Board in binding votes. They also accepted the Nestlé Compensation Report 2015 in a separate advisory vote.

Furthermore the shareholders approved the cancellation of 76,240,000 shares repurchased under the share buy-back programme, and the reduction of the share capital to CHF 311,216,000.

In his address to the meeting Nestlé Chairman Peter Brabeck-Letmathe reminded the audience that "by being a Nestlé shareholder, as well as investing in a company capable of guaranteeing you a first-rate financial return, you are also putting your faith in a company that is having a positive impact on society and in its future."

Mr Brabeck said 2015 will probably be regarded as a landmark year in matters of sustainable development, with the publication of the United Nations 'Sustainable Development Goals' for 2030. These have the potential "to make a real impact in the coming years. This is something we at Nestlé are pleased with and commit to actively contribute to”, the Chairman explained.

After reviewing the Group’s 2015 results, Nestlé CEO Paul Bulcke underlined: “We delivered this performance in 2015 while at the same time continuing to invest substantially in the future, in research and development, in our brands and our new health and nutrition platforms as well as in our organisation and our employees. In this way, we ensure that we have the right initiatives, skills and expertise to grasp the numerous opportunities around us to continue to deliver profitable growth. It is this balance between delivering today and building for the future that characterises Nestlé.”

He concluded: “We are aware of the many challenges ahead, but also of the numerous opportunities and we are organising ourselves to grasp these. All of us, the men and women who make Nestlé, we commit each day, all over the world, to continue to make Nestlé the world leader in nutrition, health and wellness.”

Speeches

Press release

Board of Directors

Invitation

Report of the Board of Directors

Related information

Voting results

Notes

The annual report and the accounts were approved and the shareholders agreed to the discharge of the Board of Directors and the Management. The shareholders further approved the proposed dividend of CHF 2.20 per share.

All proposals of the Board of Directors were approved with strong majorities.

In line with legal requirements for listed Swiss companies, the shareholders elected each member of the Board of Directors individually, for a term of office until the end of the next Annual General Meeting. Titia de Lange and Rolf Hänggi were not standing for re-election. The Board thanked them for their highly appreciated services provided to Nestlé. Shareholders elected Ruth Khasaya Oniang’o, Patrick Aebischer and Renato Fassbind as new members of the Board of Directors.

The shareholders elected Peter Brabeck-Letmathe as Chairman of the Board of Directors and elected each member of the Compensation Committee individually.

In line with the new Swiss corporate law, the shareholders approved prospectively the total compensation of the Board of Directors and the Executive Board in binding votes. They also accepted the Nestlé Compensation Report 2014 in a separate advisory vote. Furthermore, the shareholders approved the cancellation of 36'400'000 shares repurchased under Nestlé’s ongoing share buy-back programme, and the reduction of the share capital to CHF 318'840'000.

In his address to the meeting, Nestlé Chairman Peter Brabeck-Letmathe highlighted the legal insecurity resulting from various Swiss political decisions. In particular, he mentioned the new Swiss company law proposal which includes yet again a new compensation regulation, a quota of women for executive boards and a special procedural law for the economy. He concluded: “Given the challenges that the country is currently facing, it is all the more unsettling that this is all happening in an area in which Switzerland is doing rather well. It is high time it was ensured that all new legislation is in fact necessary, meaning there should be checks as to whether there is an urgent need for regulation and that it is proportionate, or in other words: whether it stands up to a detailed cost-benefit analysis. […] What we need is a political and legal environment in Switzerland that guarantees our company a stable framework. In the past, this was always one of the major assets of this country and we should do everything we can to preserve it.”

Speeches

News release

Board of Directors

Invitations

Report of the Board of Directors

Corporate governance report 2014 (including Compensation Report and Articles of Association)

Voting results

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management. The Nestlé Compensation Report was accepted in a separate advisory vote, in line with the Swiss Code of Best Practice for Corporate Governance. The shareholders further approved the proposed dividend of CHF 2.15 per share. Lastly, the shareholders approved the amendment of the Articles of Association, revised in line with new legal requirements for listed Swiss companies.

All proposals of the Board of Directors were approved with strong majorities.

In line with new legal requirements for listed Swiss companies, the shareholders elected each member of the Board of Directors individually, for a term of office until the end of the next Annual General Meeting. Jean-Pierre Meyers was not standing for re-election. The Board thanked him for his highly appreciated services provided to Nestlé over the past 23 years. Furthermore, the shareholders elected Peter Brabeck-Letmathe as Chairman of the Board of Directors and elected each member of the Compensation Committee individually.

In his address to the meeting, Nestlé Chairman Peter Brabeck-Letmathe highlighted the consequences of the “Minder Initiative” on the governance of Swiss companies. These include the increased influence of shareholders, in particular in relation to compensation, and the greater accountability of the Chairman and the members of the Compensation Committee, who are now elected directly by shareholders. Other consequences, however, were unintended, such as the transfer of power from Boards of Directors with a strong Swiss presence to more international shareholders and proxy advisers. “In our case, almost two-thirds of our shares with voting rights are held by persons who are domiciled outside Switzerland. Therefore, for most of the Swiss multinationals, the new legislation will mean a not insignificant transfer of power abroad”, he said.

Speeches

Invitation

Board of Directors

Report of the Board of Directors

Articles of Association

Voting results

Related information

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management. The Nestlé Compensation Report was accepted in a separate advisory vote, in line with the Swiss Code of Best Practice for Corporate Governance. The shareholders further approved the proposed dividend of CHF 2.05 per share. All proposals of the Board of Directors were approved with strong majorities.

Shareholders re-elected Mr Peter Brabeck-Letmathe, Mr Steven G. Hoch, Ms Titia de Lange and Mr Jean-Pierre Roth to the Board, each for a further term of three years, and elected Ms Eva Cheng as a new member of the Board for a three-year term. Ms Cheng is the former Corporate Executive Vice President responsible for Greater China and Southeast Asia Region of Amway Corporation, a U.S. based global consumer product company. Mr André Kudelski who had reached the end of his third term was not standing for re-election. The Board thanked him for his highly appreciated services provided to Nestlé over the past twelve years.

At the meeting, Nestlé Chairman Peter Brabeck-Letmathe highlighted Nestlé’s commitment to Switzerland: “Nestlé’s production in Switzerland accounts for roughly 5% of global turnover, of which nearly 80% is exported. Of our 339,000 employees worldwide, more than 10,000 are employed in Switzerland. This modest share should not belittle the fact that over the last ten years, we have created 3,500 jobs in Switzerland, at a time when employment in the food industry has been stagnant. We have invested significantly here in this country, more than CHF 3.2 billion over the last ten years. More than 60% of our worldwide R&D expenditure is in Switzerland.”

Agenda

Speeches

Board of Directors

Summary of voting results

Summary minutes of the AGM

Related information

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management. The Nestlé Compensation Report was accepted in a separate advisory vote, in line with the Swiss Code of Best Practice for Corporate Governance. The shareholders further approved the proposed dividend of CHF 1.95 per share, and agreed to the capital reduction. All proposals of the Board of Directors were approved with strong majorities.

Shareholders re-elected Mr Daniel Borel to the Board for a further term of three years and elected Mr Henri de Castries as a new member of the Board for a three-year term. Mr de Castries is the Chairman and Chief Executive Officer of the AXA Group. He had a distinguished career in the French Finance Ministry before taking on several important executive roles within the AXA Group. The Board thanked Ms Carolina Müller-Möhl and Mr Jean-René Fourtou, who were not standing for re-election, for their highly appreciated services provided to Nestlé over the past years. 

At the meeting, Nestlé Chairman Peter Brabeck-Letmathe highlighted Nestlé’s constant strong performance over time: “Our growth drive has not once been interrupted in spite of a very difficult external environment. Over the last years, Nestlé has created CHF 85 billion of additional shareholder value.” He also underlined that Nestlé today is the largest company by sales and market capitalisation in the fast moving consumer goods industry worldwide.

Agenda

Board of Directors

Summary of voting results

Summary minutes of the AGM

Shareholder survey

Speeches (Transcripts)

Related information

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management. The Nestlé Compensation Report was accepted in a separate advisory vote, in line with the Swiss Code of Best Practice for Corporate Governance. The shareholders further approved the proposed dividend of CHF 1.85 per share, an increase of 15.6 percent over last year, and agreed to the capital reduction. All proposals of the Board of Directors were approved with strong majorities.

Shareholders re-elected Messrs. Paul Bulcke, Andreas Koopmann, Rolf Hänggi, Jean-Pierre Meyers, Mrs Naina Lal Kidwai and Mr Beat Hess for further terms of three years to the Board. The Annual General Meeting further elected Ms Ann Veneman as a new member of the Board for a three-year term.

Agenda

Board of Directors

Speeches (Transcripts)

Related information

Summary of AGM voting results

Summary minutes of the Annual General Meeting

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management. The Nestlé Compensation Report was accepted in a separate advisory vote, in line with the Swiss Code of Best Practice for Corporate Governance. The shareholders further approved the proposed dividend increase to CHF 1.60 per share, an increase of 14.3 percent over last year, and agreed to the capital reduction. All proposals of the Board of Directors were approved with strong majorities.

Shareholders re-elected Messrs. Peter Brabeck-Letmathe, Steven G. Hoch and André Kudelski for further terms of three years. Mr Jean-René Fourtou, due to the age limit set out in the Board Regulations, was re-elected for a two-year term. The Annual General Meeting further elected Ms Titia de Lange and Mr Jean-Pierre Roth as new members of the Board, each for a three-year term.

Agenda

Board of Directors

Speeches (Transcripts)

Related information

Shareholder survey

Detailed voting results

Notes

The annual report and the accounts were approved and the shareholders agreed to the release of the Board of Directors and the Management.

Shareholder survey

Nestlé Compensation Report

Lord George

Board of Directors

Strategy

Committees

Agenda

Speeches (Transcripts)

Detailed voting results

Notes

All proposals of the Board of Directors were approved with strong majorities.

Agenda

Speech (Transcript)

Press release

Detailed voting results

Notes

All proposals of the Board of Directors were approved with strong majorities.

Agenda

Speech (Transcript)

Press release

Detailed voting results

Notes

All proposals of the Board of Directors were approved with strong majorities.

Agenda

Board of Directors

Speeches (Transcript)

Press release

Detailed voting results