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Nestle picks next chief executive

September 21, 2007|From Times Wire Reports

Nestle nominated the head of its business in the Americas to take over as its next chief executive, succeeding Peter Brabeck-Letmathe as head of the world's biggest food and beverage company.

Paul Bulcke, a 53-year-old Belgian, will replace Brabeck as CEO in April, pending shareholder approval, the company said. Brabeck, 62, will remain as chairman of the board.

Bulcke joined Nestle in 1979. His appointment came as a surprise to some insiders, who had expected Paul Polman, the company's chief financial officer, to be named CEO.

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