| Nestle SA has appointed Anna Manz, the finance chief of the London Stock Exchange Group, as its new CFO to replace Francois-Xavier Roger. Unilever
Plc will bid farewell to its CFO, Graeme Pitkethly, by May next year
due to inflationary pressure in the consumer-goods industry. - The
new CFOs will have to deal with the loss of market share while
preserving profitability without spending too much on new items or
promotions.
- The most senior woman in the firm and the first female CFO in Nestle's history will be Anna Manz.
- Nestle and Unilever had significant growth while their departing CFOs, Roger and Pitkethly, were in charge.
- Pitkethly
had to deal with takeover rejection, cost-cutting initiatives, and
failed acquisitions, which could have resulted in more extensive changes
under new CEO Hein Schumacher.
- After the announcements, Unilever shares dropped 1.6% in London, and Nestle SA lost 1.7% in Swiss trading.
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