Top man at Nestle: A file picture showing Schneider speaking during the company’s AGM in 2017. Nestle has bought more than 20 companies under Schneider. He has axed about 4,000 jobs involved in frozen-food delivery in the US and helped put the company on track for savings of US$1.9bil this year. — Bloomberg
ZURICH: Nestle SA plans to return as much as US$20bil to shareholders by 2022 and indicated an appetite for acquisitions to help Chief Executive Officer Mark Schneider sustain faster growth and better profit margins.
Flush with cash after the US$10bil sale of a dermatology unit earlier this month, the Swiss food giant said yesterday that it will start a new share buyback programme in January and may complement it with special dividends over the next three years. It’s also reorganising its bottled-water business after a sales decline.
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