(PRESS RELEASE) VEVEY, Switzerland, 17-Oct-2019 — /EuropaWire/ — The Board of Directors of Nestlé has announced it is making some internal reorganisations related to its waters business. Along with those changes, the company will also make changes to its Executive Board as well. The decision made on the waters business is to have it integrated into the Group’s three geographical Zones as the organisational change will be in effect starting from January 1, 2020. For the purpose, Nestlé will establish a dedicated Strategic Business Unit (SBU) which will report to Patrice Bula who is a member of the Executive Board and Head of Strategic Business Units, Marketing & Sales. The new SBU will focus on the waters business and will ensure strategic alignment globally while managing the core global functions.
The strategic reorganisation will also be subject to employee consultation wherever required. The new unit will help utilize Nestlé’s strong local expertise, better respond to rapidly changing consumer preferences, accelerate profitable growth and create synergies.
Nestlé Waters was originally established in 1992 as a result of the Source Perrier S.A. acquisition. Since then the company has grown rapidly and expanded successfully on the international markets becoming the world’s leading bottled water company. The business owns and operates almost 50 renowned and iconic brands, such as S.Pellegrino, Perrier, Acqua Panna, Poland Spring and Nestlé Pure Life. An integral part of Nestlé’s nutrition, health and wellness strategy, the waters business is one of the company’s high-growth product categories.
Along with Nestlé Waters reorganisation, Maurizio Patarnello, Deputy Executive Vice President and Head of Nestlé Waters, will be leaving the Nestlé Executive Board on December 31, 2019. Maurizio will continue to advise Nestlé Waters in order to ensure a smooth transition to the new organisational structure. With a genuine passion for Nestlé Waters’ iconic brands Patarnello has overseen the launch of innovative products that meet new consumer trends. Nestlé Board of Directors and the Executive Board express their sincere gratitude and appreciation to Maurizio for his leadership at Nestlé Waters.
Also, Sanjay Bahadur, currently Head of Acquisitions and Business Development, has been appointed to the Nestlé Executive Board as Deputy Executive Vice President, effective January 1, 2020. Sanjay will lead the newly created Group Strategy and Business Development function, which will support Nestlé in identifying internal and external strategic growth opportunities. In addition, the new position will also manage external partnerships and licensing agreements for the Nestlé Group and oversee the company’s corporate venture capital activities.
Sanjay Bahadur has been with Nestlé since 1982 and has earned an extensive market experience having worked in India, Switzerland, Hong Kong, Turkey and China. Prior to assuming his role as Head of Acquisitions and Business Development Sanjay was CFO for the Greater China Region.
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