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Nestlé releases AGM results

by Hayley Ralph
April 21, 2023
in News
Reading Time: 2 mins read
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Nestlé
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Nestlé shareholders approved all of the Board of Directors’ proposals at the 156th Annual General Meeting (AGM) which took place on 20 April in Lausanne, Switzerland.

The event was attended by 1257 shareholders in person, representing 58.5 per cent of the capital and 79.9 per cent of the shares entitled to vote. The Independent Representative acted on behalf of 99.1 per cent of Nestlé’s capital.

Rainer Blair, President and CEO of Danaher Corporation, a global science and technology company, and Marie-Gabrielle Ineichen-Fleisch, former State Secretary and Director of the Swiss State Secretariat for Economic Affairs, were elected to Nestlé’s Board of Directors.

After 10 years of Board service, Eva Cheng decided not to stand for re-election for personal reasons. On behalf of the Board, the Chairman sincerely thanked Cheng for her highly relevant and valuable contributions.

The Chairman and all other members of the Board of Directors were re-elected for a term of office until the end of the next AGM. Shareholders also elected the members of the Compensation Committee for a one-year term.

Shareholders also approved the total compensation budgets for Nestlé’s Board of Directors and Executive Board as well as the revision to the Articles of Association. Ernst & Young was re-elected as statutory auditors for the financial year 2023.

For the year ahead, the Board and its different committees will be composed as follows:

Board of Directors

Paul Bulcke, U. Mark Schneider, Henri de Castries, Renato Fassbind, Pablo Isla, Hanne Jimenez de Mora, Patrick Aebischer, Kimberly A. Ross, Dick Boer, Dinesh Paliwal, Lindiwe Majele Sibanda, Chris Leong, Luca Maestri as well as Rainer Blair and Marie-Gabrielle Ineichen-Fleisch.

Chair’s and Corporate Governance Committee
Paul Bulcke, U. Mark Schneider, Henri de Castries, Renato Fassbind, Pablo Isla, Hanne Jimenez de Mora

Compensation Committee
Pablo Isla, Patrick Aebischer, Dick Boer, Dinesh Paliwal

Nomination Committee
Henri de Castries, Paul Bulcke, Dinesh Paliwal, Marie-Gabrielle Ineichen-Fleisch

Sustainability Committee
Hanne Jimenez de Mora, Dick Boer, Lindiwe Majele Sibanda, Chris Leong

Audit Committee
Renato Fassbind, Henri de Castries, Kimberly A. Ross, Luca Maestri

For more information, click here.

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