Nestlé chairman steps down

SWITZERLAND – Rainer E. Gut, chairman of Nestle’s board, will retire at this year’s general shareholders’ meeting on 14 April.

Gut will be replaced by Peter Brabeck-Letmathe, who also retain his current position as chief executive.

Two vice chairmen are to be brought in. These will be existing board members Andreas Koopmann and Rolf Hanggi.