Wed, 07 Mar 2018 13:30 - Updated Wed, 07 Mar 2018 13:30
Nestle growth architect Maucher dies aged 90
ZURICH - Nestle (NESN.S) veteran Helmut Maucher, who turned the Swiss-based company into the world’s biggest food group during his almost 20-year leadership, has died at the age of 90, the company said on Wednesday.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
Maucher, a German who joined the company as a commercial apprentice and later became chief executive and chairman, passed away at his home in Bad Homburg, Germany on Monday, Nestle said in a statement.
“Helmut Maucher was a highly esteemed and charismatic personality, a strong and visionary leader, who dedicated so much of his life to Nestle,” Nestle Chairman Paul Bulcke said in the statement.
Known for being outspoken, Maucher boosted the company’s sales through a series of aggressive acquisitions in the 1980s.
Maucher joined Nestle as an apprentice at the Nestle factory in Eisenharz, his home town in southwestern Germany, and held several management positions in Germany before transferring to Nestle’s Swiss headquarters in 1980.
He was named chief executive in 1981, at the height of a dispute over Nestle’s marketing of infant formula in developing countries.
Under the old-school manager’s leadership, Nestle added Carnation milk and Buitoni pasta to its brand portfolio, and went ahead with the contested takeover of British firm Rowntree, the maker of KitKat and Smarties, in the late 1980s.
From 1990 to 1997, he simultaneously held the jobs of CEO and chairman. He retained the latter position until 2000 when he reached mandatory retirement age and was named honorary chairman,REUTERS.
- 07/03/2018 13:24:23
WASHINGTON - A majority of Republican lawmakers in the tightest congressional races are changing their message on guns, expressing new support for restrictions after last month’s high school shooting in Florida, according to a Reuters review of the candidates’ public statements.
- 06/03/2018 14:12:56
TOKYO - Japan on Tuesday stuck to its low-key approach to threatened U.S. tariffs on steel and aluminum, reflecting a desire to keep trade fights from hurting security ties as well as lessons learned about how to deal with President Donald Trump.
- 06/03/2018 14:09:15
ISTANBUL - Turkey could retaliate against potential U.S. steel tariffs by hiking duties on imports of American cotton, one of President Tayyip Erdogan’s economic advisers said on Tuesday.