Nestlé Nominates Geraldine Matchett for Board of Directors, Bids Farewell to Long-Serving Members

Nestlé Nominates Geraldine Matchett for Board of Directors, Bids Farewell to Long-Serving Members

(IN BRIEF) Nestlé has announced its proposal of Geraldine Matchett, former Co-Chief Executive Officer and CFO of DSM-Firmenich AG, for election to its Board of Directors at the upcoming Annual General Meeting on April 18, 2024. This move comes as Henri de Castries, after 12 years of service, and Kimberly A. Ross, who served for six years, will not seek re-election. Paul Bulcke, Chairman of the Nestlé Board, expressed gratitude for their contributions while welcoming Matchett’s extensive experience in corporate management and finance to enhance the Board’s expertise. With the addition of Matchett, Nestlé aims to sustain its commitment to diverse skillsets and knowledge within the Board, further strengthening its strategic direction.

(PRESS RELEASE) VEVEY, 22-Feb-2024 — /EuropaWire/ — Nestlé announced today that it proposes Geraldine Matchett, previously the Co-Chief Executive Officer and CFO at DSM-Firmenich AG, a nutrition, health and beauty company, for election to its Board of Directors. The election will take place at the company’s Annual General Meeting (AGM) on April 18, 2024.

After 12 years of dedicated service to the company, Henri de Castries will not stand for re-election to the Board of Directors. In addition, Kimberly A. Ross, who has served on the board for the last six years, decided not to stand for re-election for personal reasons. All other members of the Board and the Chairman will be proposed for individual re-election.

“On behalf of the entire Board, I would like to express my sincere gratitude to Henri de Castries and Kimberly A. Ross for their outstanding service and important contributions,” said Paul Bulcke, Chairman of the Nestlé Board of Directors. “Henri de Castries has served as our Lead Independent Director for the last seven years and as Vice Chairman for the last six, playing a key role in our governance. We are grateful to him for his contributions to our Board’s strong professional experience and diverse background. Both he and Kimberly A. Ross have shown great dedication to Nestlé. At the same time, we are pleased to propose Geraldine Matchett as new Board member. Her extensive experience as a CEO and long-time CFO will contribute significantly to the Board’s strategic, operational and financial expertise.”

With the proposed nominee, the Nestlé Board will comprise 14 members, of whom 12 are independent directors. Nestlé strives to continuously add diverse skillsets and knowledge to its Board.

Geraldine Matchett, a Swiss, British and French citizen, has relevant industry experience as well as a strong track record in general corporate management, strategy and finance, having served as Co-Chief Executive Officer and CFO at DSM-Firmenich AG (formerly Royal DSM N.V.) until September 2023. Prior to DSM, she was Global Chief Financial Officer and member of the Operations Council of the SGS Group in Switzerland. She has held financial auditor roles at Deloitte and at KPMG and is a Certified Chartered Accountant in the UK.

Media Contacts:

Media Relation:
Christoph Meier
Tel.: +41 21 924 2200
mediarelations@nestle.com

Investors Relation:
Luca Borlini
Tel.: +41 21 924 3509
ir@nestle.com

SOURCE: Nestlé