Investor Pressures Nestlé For More Sales, Restructuring
Billionaire investor Daniel Loeb has stepped up pressure on food group Nestlé SA, in a letter that urged its board to be "sharper," "bolder" and "faster" in spinning off businesses and untangling its complex management structure.
"This is a call for urgency – rather than incrementalism," said Loeb's letter.
It came with a 34-page presentation with recommendations and critiques. Third Point, the $18 billion hedge fund which has invested more than $3 billion in Nestlé, also launched website www.Nestlénow.com to push its case.
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