Nestlé nominates three new independent directors to Board

Nestlé S.A. / Nestlé nominates three new independent directors to Board . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

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Vevey, January 18, 2018

Nestlé nominates three new independent directors to Board

Nestlé today announced that it proposes Pablo Isla (pdf, 153 Kb), Chief Executive Officer of Inditex; Kasper Rorsted (pdf, 90 Kb), Chief Executive Officer of adidas; and Kimberly A. Ross (pdf, 100 Kb), former Chief Financial Officer of Baker Hughes, for election to its Board of Directors. The elections will take place at the company's Annual General Meeting on April 12, 2018. At that time, three current directors, Andreas Koopmann, Steven G. Hoch, and Naïna Lal Kidwai will retire from the Board. The Board also proposes the individual re-election of the Chairman and the other current members of the Board.

"As Nestlé advances its Nutrition, Health and Wellness (NHW) strategy for accelerated growth in targeted consumer products categories and for sustainable shareholder value creation, each of these nominees brings a unique depth of experience and expertise that will be directly relevant to Nestlé," said Nestlé's Chairman Paul Bulcke. "We are thrilled to have Pablo, Kasper, and Kimberly support Nestlé through the next phase of our development. These highly accomplished individuals have strong records in successfully navigating today's rapidly changing consumer environment with creativity and business acumen, leading to sustainable value creation."

With the proposed nominees the full Nestlé Board will comprise 14 members, of which 12 are independent directors. Including the proposed nominees Nestlé has added seven new independent directors in the last three years. The continuous refreshment of the Board augments its diversity and experience and adds new perspectives in the different areas relevant to Nestlé.

Nestlé regularly engages with all its shareholders on topics of corporate governance including its Board's composition. "The robust director selection process at Nestlé continues to equip the Board with the right blend of capabilities, perspectives, and experiences. This is the appropriate Board composition to support the execution of the company's strategy to deliver long-term growth and sustainable value creation for shareholders," said Henri de Castries, Chairman of the Nomination and Sustainability Committee and Nestlé's Lead Independent Director.