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Nestlé | 2023 World's Most Admired Companies

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Nestlé | 2023 World's Most Admired Companies | Fortune

Katie Linsell

Bloomberg

Vegan KitKats have arrived — but they’ll cost you more

/2022/08/26/vegan-kitkat-v-launch-price/

Andrew Marquardt

The U.S. just got 70,000 pounds of baby formula airlifted in from Europe to help with the national shortage

/2022/05/23/baby-formula-shortage-airlift-europe-70000-pounds/

Christiaan Hetzner

Nestlé is flying in emergency baby formula to the U.S. and running factories flat out to help ease critical shortage

/2022/05/17/us-baby-formula-shortage-nestle-emergency-delivery/

Chloe Taylor

From Head & Shoulders to KitKats and Evian, inflation is coming to the grocery aisle as companies pass on rising costs

/2022/04/22/inflation-coming-grocery-aisle-companies-rising-costs-earnings/

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

MPW Summit 2020: The Board's Role In Leading Through Crisis

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We will explore how boards navigate through crises: How do directors best work with the CEO and with one another to carry the company through a market disruption, a global pandemic, or any other giant challenge?

[ 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

Leadership

Mark Schneider says green issues key to younger consumers.

Mark Schneider says environmental issues are key to younger consumers.

Nestlé CEO Mark Schneider on New Markets for the Company

Coffee and plant-based nutrition are at the top of the list.

mark what's going on at Nestle? Most people think of candy bars, chocolate. When you say the name Nestle. Now you've sold off that business and you're focused more on health and wellness. Tell us why you're going in that direction. I think the consumer around us is changing pretty fast. People become so much more health conscious and demand for healthier products. Good for you. Good for the planet type products is on the rise, and consumer goods company were all about leading and Fargo into consumer. You've been doing a lot of dealmaking since he became CEO three years ago. Let's talk about some of them. One of the big ones is the $7 billion deal that you did with Starbucks and you're selling its coffee products in a supermarket. How important is that for Nestle? That was a deal with very proud off because it really adds another key club will point them to our coffee lineup. So between Nescafe A, which stands for so little coffee espresso with stands, proportion, coffee and now a Starbucks, which also has a unique position in the world for premium coffee, I think we're controlling three pretty significant coffee brands with a distinctive taste profile. This has been a fast launch where half a year after the signing of the agreement, we were out of 24 products on the shelves seen overarching success. This year we're shooting for 250 million dollars of additional growth just this year coming from this point. Transactions. When you say $250 million of growth is that contributing to your sales, that is to sales. And that is the organic rope on the business we bought from them in the U. S. Plus all the new business we're generating now in more than 30 markets around the world. So it's been very successful. You actually started selling those Starbucks products first in Asia. Now you spread toe 40 countries. What else do you want to do with Starbuck? Well, now it's about Maur products coffee creamers, which would want this summer soluble coffee, which is going to come next year. So we have a problem chock full of innovations that give you that distinctive Starbucks taste profound experience right in your home. You've also gotten into the vegan burger market. You have the incredible burger that you healthy European customers. You call it the awesome burger in the U. S. Not quite sure why you call it awesome, but is this a trendy food fad? Or it's something bigger. So we called it awesome because it is awesome and we strongly believe in it. Do you like, Do you eat it? I love it. I've tasted burgers, probably every week for the last years old because as we're trying to get closer and closer to perfection, I wanted to be part of that team that sample the product, decide from the burgers. We are strong believers in plant based nutrition. We also have the meat business. But we do see more crop opportunity and plant based nutrition down the road. Western diets so over indexed on meat and dairy products that I think going a little lighter on badge does a whole lot for public health. And it also doesn't look for the ecological footprint of what we have to offer. There are other companies that air getting into this business is, Well, there's the impossible burger, which has a little bit of a head start on Nestle. How do you compete with these kind of Cos. well, first of all, this is a significant business opportunity just to give you a number for the US every year. 50 billion hamburger Patties sold in the U. S. That computes about three for adult American for a week. So this is a huge business. And if only part of that goes plant based, it means lots of opportunity for several players. In addition to taste, which everyone is chasing, we're also trying to offer Superior Nutritionals so lower saturated fat, lower sodium and also offer a product that has a good fiber content. And how much is this going to contribute to yourself? We have not disclosed the numbers for 2019. We just launched the products literally a few months ago. But overall, the plant based theme to us is one of the major game changers for our food business going forward. Tell us about your pet care business. Uh, it looks like consumers as they're going organic with their own food. Now they're coming up with organic choices for their dogs and cats. How big a market is this? It's a significant market is one of our top four growth businesses. In addition to infant nutrition, coffee and water. I think what's driving this is two things in advanced economies, pets are seen one Maur as family members, and you want to treat them just as well as any of the human family. Members want to offer the best food and beverage choices for the emerging markets. It's all about what we call caloric conversion, and that is, rather than feeding the pet with household ways to have dedicated pet food, which saves you time and money and, of course, is the healthier solution. So you're famous for the Purina brand with pet care? Are you thinking of expanding toe other lines or maybe making some acquisitions? Well, we have built this business business not only through organic growth, but also through acquisitions over the years will continue to do that. The Fortune Global conference that you are attending the theme of it is reinventing business for the next decade. As you look at reinventing Nestle, what do you want people to be saying about the company 10 years from now in the year 2030? I think these two key planks off healthier food and beverage choices served up in a more sustainable way so right for you, right for the planet. I think making good, incredible progress and being recognized for that by consume was that whole key agenda.

Nestlé

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World's Most Admired Companies
As of 2/1/2023

Nestlé

Company Information

World's Most Admired CompaniesAs of 2/1/2023

World's Most Admired Companies
As of 2/1/2023