Nestle elects new chairman/CEO

01/18/2005

The Board of Directors of Nestlé S.A., Vevey, Switzerland, has elected Peter Brabeck-Letmathe to be its new chairman and CEO. Brabeck-Letmathe will assume those responsibilities following Nestlé's General Meeting of Shareholders on April 14, which is when current Chairman Rainer E. Gut, having reached the mandatory retirement age, will step down.

During the January 17 meeting at which Brabeck-Letmathe was elected, the Board also chose two Vice-Chairmen, Andreas Koopmann and Rolf Hänggi. Koopmann will be the prime intermediary between the Board of Directors and the Chairman/CEO, while Hänggi will chair the Audit Committee and will ensure that the internal control function is exercised fully.