Nestlé

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WMAC 2023-Nestle

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

The first-ever European edition of the Fortune 500, ranking companies by revenue. 

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Operating in 188 countries with a portfolio of 2,000 brands including Nescafé, Häagen-Dazs, Purina pet care, Kit-Kat and Corn Flakes, Switzerland’s Nestlé is the world’s largest food and beverage company.    
<ul> 
 	<li data-leveltext="●" data-font="Verdana" data-listid="50" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Verdana&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;●&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" data-aria-posinset="1" data-aria-level="1">Revenue in 2022 lifted 3.8% to $98.9 billion, largely due to Nestlé passing on increased prices in the face of rising input costs. This has continued into 2023: in the first six months of the year, the company raised prices by 9.5%. Sales were strongest in North and Latin America (up 15.3% and 17.9% respectively).  </li> 
 	<li data-leveltext="●" data-font="Verdana" data-listid="50" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Verdana&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;●&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" data-aria-posinset="2" data-aria-level="1">Annual statutory profit fell 47.5% to $9.7 billion in 2022, predominantly due to the effects of the previous year’s partial divestment of its stake in L’Oréal, in a transaction worth €8.9 billion ($10 billion) at the time.  </li> 
 	<li data-leveltext="●" data-font="Verdana" data-listid="50" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Verdana&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;●&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}" data-aria-posinset="2" data-aria-level="1">The group remains highly active in mergers and acquisitions, having completed over 100 deals since 2017, with the change in portfolio equaling 22% of sales from that year. Notable deals in 2022 included the acquisition of Brazilian health and lifestyle brand Puravida and taking a majority stake in U.S. plant-based foods company Orgain.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

WMAC-2022-45-Nestle

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

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Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 79 Nestle

In 2020, the world’s biggest food conglomerate saw continued strong growth in its pet food, coffee, and health science businesses. Even so, sales fell by 8.9% to $91.5 billion, hit hard by a series of divestitures, the Nestlé Skin Health line and U.S. ice cream business among them. With younger consumers demanding brands go green, Nestlé doubled down on its net-zero targets, and even committed to investing $3.5 billion over the next five years in a wide-ranging set of environmental initiatives to decarbonize operations. Reputational risk still abounds. Despite winning, in June, a closely watched U.S. Supreme Court decision involving child labor in the cocoa sector, Big Chocolate firms including Nestlé continue to face pressure from activists to step up oversight throughout the supply chain.

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CTW-2021-28-Nestle

Nestlé was late to the plant-based party that turned the likes of Impossible Foods and Beyond Meat into industry darlings. But now the food and beverage titan is making up for lost time, aggressively launching products across its vast portfolio that have the potential to improve both consumers’ health and the planet’s: vegan KitKats; pea-based alternatives to tuna and milk; Purina pet food made with insects and fava beans. The Swiss multinational has about 10% of its R&amp;D employees working on plant-based goods, which are now approaching $1 billion in revenue annually for the company. Nestlé’s massive scale and distribution network is not only driving double-digit sales growth of meat and dairy alternatives for the company, but also helping mainstream the entire category worldwide.

Change the World

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

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G500-2020-082-Nestle

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Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

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Cows were once a competitive advantage for Switzerland, which helps explain how the 1905 merger of two Swiss dairy companies would eventually produce the world’s largest food and beverage business. <a href="https://www.nestle.com/about">Nestlé</a> still sells in the product categories it originally pioneered— condensed milk and baby formula — albeit as part of a<a href="https://www.nestle.com/about/overview"> 2,000-brand </a>product range that includes coffee (Nescafé and Nespresso), pet food (Purina), ice cream (Häagen-Dazs), bottled water (Vittel) and chocolate (Kit-Kat). In recent years, Nestlé has also expanded heavily into specialist and health nutrition, and plant-based foods. A stalwart of the Fortune Global 500, it employs 270,000 people worldwide and sells into 188 markets.

Nestlé (NSRGY): Company Profile, Stock Price, News, Rankings

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nestlé

Cows were once a competitive advantage for Switzerland, which helps explain how the 1905 merger of two Swiss dairy companies would eventually produce the world’s largest food and beverage business. Nestlé still sells in the product categories it originally pioneered— condensed milk and baby formula — albeit as part of a 2,000-brand product range that includes coffee (Nescafé and Nespresso), pet food (Purina), ice cream (Häagen-Dazs), bottled water (Vittel) and chocolate (Kit-Kat). In recent years, Nestlé has also expanded heavily into specialist and health nutrition, and plant-based foods. A stalwart of the Fortune Global 500, it employs 270,000 people worldwide and sells into 188 markets.

Nestlé (NSRGY): Company Profile, Stock Price, News, Rankings | Fortune

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Nespresso North America CEO Alfonso Gonzalez Loeschen credits the company's success to being a "people-first organization." 

Nespresso North America's CEO "actually knocked on Nestlé's door" to get his first job

Nespresso North America CEO Alfonso Gonzalez Loeschen.

Features

Nespresso North America's CEO began his journey in the company as an intern 32 years ago.

Nespresso North America's CEO says the company's success is due to being a "people-first organization." 

I drink too much coffee. You could say I drink about 5 to 6 coffee cups per day, two or three in the morning. And then throughout the day, depending on the day, I have a couple of other drinks and espresso and nice coffee beverage. But it's really something I look forward to every day. My very favorite form of coffee I would say is a double espresso, a dash of milk, almost like a macchiato and with just a hint of sugar or honey. Hello. My name is Alfonso Gonzalez. I am CEO for an espresso North America and this is an espresso secret to success. I'm Mexican and American origin. My dad's from Mexico. My mom's from Chicago actually. And I grew up uh and I studied in Mexico City. I majored in uh in marketing. I went into a program in Nestle that was a sort of a training program was for marketing and sales. And my first job was basically as a trainee. It was a fantastic program because the first six months they took us to the you were shadowing people across the company. So whether it was finance, whether it was operations, the warehouse uh sales, et cetera. So we did a, I did a little bit of shopping for the first six months. And then after that, my first job was going to one of the regions in Mexico to be a salesman. So I did that for about a year and a half and then went back and my first job was as a assistant marketing manager. So we started out in Mexico, uh put my hand up and said, I, I want an international career. I wanna get out there were not a lot of Mexican experts at that time. So I was one of the first and I got an opportunity to go to Argentina. So went to Argentina to a project there for about a year. Then from there, I moved to Switzerland uh to our head offices to what is our copy Strategic Business Unit. Spent three years there, went back to Mexico for about seven years in very different positions. Then I had the opportunity for the first time to go to North America. So went to the US to, to our nestle offices, worked there for about five years and then had the opportunity to lead the nestle business in Puerto Rico. So, well that, that was my first general management uh job was there for about three years. And that's when I got the opportunity to join Espresso. So I joined Espresso uh in Switzerland at headquarters uh as a global CMO and four years ago, I came to North America to lead an espresso North American business, which is the US uh Canada and Mexico. When you're a young marketer, usually you start as a, as an assistant manager, then you can become a brand manager, then you manage a full business, maybe you manage a division. So as, as you're progressing, you're aiming to go to hopefully reach a CEO position. What learned is the traditional path that you expect is never the one that you get. There's lateral movement. Sometimes there's a step back, step two steps forward. The first priority is to get to know the business and get to know the people. I do believe that what makes a business successful is the people and I believe in a people first organization. But as well, whenever I get into a new job, no, there's a book, I think that's the 1st 100 days that I once read a long, long time ago. There's a proof to that. It's like really immersing yourself, rolling your sweets up in the 1st 100 days. Getting to know the business deep down, getting to know the people is what brings your credibility in order to then be able to lead and to establish a vision and to inspire your teams and to get hold of your teams. The second thing I would say is you need to surround yourself with the best people and once you surround with, with yourself with the best people. It's all about uh giving clear guidance. It's all about empowering them, trusting them and then things, things play out and success comes. I would say that our focus on being a customer centric brand and organization in a of first organization really is the secret of success. It's really always bringing it back to a consumer because you can get lost. Right at the end of the day when you're leading a business, sometimes you can end up speaking to yourself. So really always taking a step back and saying, why is this relevant to your consumer? I think that in our relentless approach to being a consumer center organization is at the heart of the success together with being a direct to consumer model, our direct to consumer model allows us to have a closer relationship with our consumers. I meet with every single new employee at a certain point in time during their first, depending on when they go in. But there's an average during the first three months, I have an opportunity to sit down with the new employees and and just have a more intimate coffee chat to see how they're doing. If, if they fill any questions that they have, get any advice, I take so much out of, of those chats. So we do this on a monthly basis and it's just a way to stay closer to people. This is one of my favorite moments because you get to hear what's on people's minds, what's bothering them, what, what they're curious about. But as well, you get to get you, you get a lot of suggestions or new ideas from them and you get to know them on a more personal basis because it's, uh, you're talking 8, 10 people. So there's more environment. So I'm gonna be your barista for a minute. I'll do a very simple beverage. I'll do a latte. So to do a latte, uh one of the best things to do a latte is you take one of our double espressos, just pop it in here. And then what we have here is for milk. We have a milk jug. So basically, what our machine will do is it will detect the milk jug. Once you press it here, we have a couple of buttons here. So basically you can choose what the frothing. You want a lot of frost, a little frost. So uh once the milk is done, what I'll do is I'll pour it in and then we'll have a very quick look. So this is what I'll usually have in the morning. I actually have a cist machine at home and we have plenty of this at the office. So now you have a really nice frosted milk here. So what I'll do pour here and you will just position your cup and we'll just brew our double espresso. And what you'll see is you'll get this beautiful layers just as you get in a coffee shop. My advice is if you like your coffee sweetened, I would use a little bit of sugar that whatever type of sugar you want. Uh Then the milk as well. You can choose the different types of milk options that you can have. But I will put uh for your sweetener, I will put the sweetener in before. So you put your sugar or your honey and then you pour everything behind and that's it. Voila.

Nestle is using its scale to turn plant-based food into a mainstream source of nutrition. 

Change the World 2021: Nestlé and ADM

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nestle is on this year, is changing the world list because of the enormous amount of money it's been investing in the plant based food space. Nestle is definitely one of the biggest food companies out there and it's using its scale, just this massive reach to really turn plant based into a mainstream thing. Nestle has launched plant based across its entire range of products. So there's a vegan kitkat, there's key based tuna alternatives. They're doing insects in dog food. So they really kind of looked at the entire range of products and said how can we change this? They had a brand on the market more than 30 years ago in the plant based area but they kind of stopped paying attention to this. And in the meantime we saw companies like impossible foods and beyond me really become the darlings of the industry. Nestle has said, we're going to catch up. They've invested a lot of money here and they really have scale and reach and have the potential to make the change. Plant based is approaching $1 billion double-digit rates. So this is this is a high growth area for them. ADM is really the biggest maker of plant protein that you've never heard of. Their the behind the scenes guys, they are the ones that are making the ingredients that go into a lot of these products. They've been in plant based industry since the 19 fifties. They claim to be the inventor of the soy burger. Uh They continue to really invest and innovate here. And they have something like 10 investments and joint centers in the plant based space. So they are really at the forefront of the science. They have historically been a professor of commodity crops. This is a huge bet for them to move away from that. They're really trying to reinvent themselves and kind of putting their money in this space. The plant based products used to be for a very small part of the population of your hardcore hippies who really were vegan, that's no longer the case. Plant based appeals to a huge range of people. We've got the rise of the flexitarian who want to eat vegetarian sometimes, but all the time and are really looking for something that taste feels kind of reminds them of meat and that's really what's driving the plant based movement. Some say that the global plant protein industry is $10 billion in size already and could really triple over the next decade, doubling down on plant based is a world changing initiative. We know how resource intensive animal agriculture can be um water, land usage and to feed a growing planet, we need to think of alternatives and plant based is one way we can get there

Ursula Burns, Senior Advisor, Teneo; Retired Chairman and CEO, Xerox; Board Member, ExxonMobil, Nestlé, Uber
Jan Fields, Director, Chico’s, Welbilt, Taubman Co., Alimentation Couche-Tard
Bonnie Gwin, Vice Chairman, New York Office, Heidrick & Struggles; Board Member, Georgetown University, Cleveland Clinic Hospital
Susan Schwab, Professor of Public Policy, University of Maryland; Strategic Adviser, Mayer Brown LLP; Board Member, Boeing, Caterpillar, FedEx, Marriott
Moderator: Pattie Sellers, FORTUNE

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[ MUSIC ] Mark, you're very committed to doing something meaningful about climate change to your employees and customers agree with you do they support you in this movement? We believe that something that used to be a fringe group of people who are environmentally conscious 20 30 40 years ago that this is something that's turning mainstream now pretty fast. And hands, it's influencing consumer choices more and more. The younger you go with consumers the more and for consumer goods companies, it's always important not to lose the youngest generation of consumers. You set some ambitious goals for Nestle. You have said that by the year 2025, Nestle will make 100 % of its packaging, recyclable or reusable. Now How doable is that because 2025 is just five years away? That's true and of course we're talking about a pretty giant supply chain in our case, but we do have some pretty detailed roadmaps, think about abolishing for example plastic straws. We're making good progress on that. Replacing plastic packaging with improved paper packaging. And also exploring reuse schemes where you're cutting down on packaging in the first place because people reuse the same container over and over again. So I think once you put your head to it, there's enormous progress that you can make and we're doing good on it. Packaging waste is one aspect. The greenhouse gases is the other one. So we want to be carbon neutral by the year 2050. And int he year or two we'll be publishing a detailed roadmap on how we intent to achieve that. You talked about plastics, that's one of the biggest challenge and what is Nestlie doing about that, given that you're in the bottled water business and That means a lot of plastic bottles. Yeah. So bottled water and plastic bottles, the quickest one is to get recycling rates up. Well, that's feasible and we're working very hard to do this, not just us alone, but in conjunction with retail partners and waste collection companies. We're also working on alternative containers that avoid plastics all together. Or we're using on machines that allow you dispensing right into container that you use all over again. So several angles, you have to have several tools in the toolbox but we're confident that we'll make good progress. These environmental issues are huge. It's not enough for one company alone. What are you doing to get other businesses and companies In the US and around the world, to work with you and communities to work with you on these goals. So this is very important to us. You got to have a systems mindset where you're partnering with other companies with communities to make good progress, especially when it comes to recycling schemes, but also when it comes to sharing technologies that are not competitive at the end of day And so in that sense, a new outside in mindset and the culture of sharing information is very important. What feedback have you been getting, whether it's from communities or from other corporations? I think people are seeing the change and everyone is up against the same challenges. So from their side also, I think there's a renewed sense of let's work together to solve this. As there are still many people who do not believe that their scientific proof about climate change. What do you say to that? There is very convincing evidence. The CEO job is not to wait till everything is proven to the nth degree, but you get moving when you have overwhelming evidence. And this is what we're trying to do. [ BLANK_AUDIO ]

Nestlé CEO: company aims to be carbon neutral by 2050

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Mark Schneider says environmental issues are key to younger consumers.

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