RPT-Nestle says looks to shake up its portfolio of brands
LONDON Oct 1 (Reuters) - Nestle, the world's largest food company, is working harder to manage its portfolio, its chief executive said, as some businesses have underperformed for too long.
CEO Paul Bulcke said on Tuesday that there were short lists for businesses that could be fixed and some that cannot. He did not mention specific brands.
Bulcke said during a meeting with investors that another main priority was scaling back capital expenditure. Moving ahead, the company's capital expenditure should be around 4 percent to 5 percent of sales, he said. He also said the company was trying to be more efficient.
Bulcke declined to comment on Nestle's closely-watched stake in L'Oreal beyond repeating that all options were on the table.
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Analysis: Boeing bidders dangle goodies to win 777X jetliner