Olofsson Leaves Nestle

November 24, 2008

November 19/M2 EquityBites -- Confectionery and food company Nestle SA announced that Lars Olofsson, executive vice president in charge of Strategic Business Units, Marketing and Sales, has decided to leave the company at the end of this month.

Olofsson was with the company for 32 years. He has been in his current role since 2005. Prior to that, he was executive vice president responsible for Zone Europe. Before that, he was successively general manager of France Glaces Findus, head of the Nordic markets and head of Nestle France.

The company said that Werner Bauer, executive vice president and chief technology officer, will take ad interim additional responsibility for Strategic Business Units, Marketing and Sales, effective immediately.

Bauer had already held this role on two previous occasions.

Nestle's board of directors is expected to take a decision on a permanent appointment to this in due time.

From the November 24, 2008, Prepared Foods e-Flash

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