This article was originally published in The Tan Sheet
Executive Summary"Robust innovation and renovation pipeline" for infant formula contributed to 6.6% growth in Nestle Nutrition sales to 5.7 bil. Swiss Francs ($4.87 bil.) for the January-September period, company announces Oct. 18. For the nine-month period, organic sales advanced 9.7%, "in line with the business' long-term target of 10%," firm adds. "NAN premium starter formulas and Nestle infant cereals enriched with probiotics to strengthen infants' immune systems, did particularly well in their global rollout," according to Nestle. Firm's Powdered and Liquid Beverages unit achieved sales of 12.8 bil. Swiss Francs ($10.9 bil.), representing growth of 7.5%, or 10% organically. Nestle also announces promotion of Acquisitions and Business Development Chief Jim Singh to CFO, and Paul Polman as head of Zone Americas, replacing Paul Bulcke, who will assume the CEO post in the spring (1"The Tan Sheet" Oct. 1, 2007, In Brief)...
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