Latest news with #Switzerland-based
Yahoo
28 minutes ago
- Business
- Yahoo
Nestlé chair Paul Bulcke to step down as Pablo Isla nominated successor
Nestlé chair Paul Bulcke is to step down in 2026 with vice chair Pablo Isla lined up to be promoted to the role. The Milo drinks maker said in a statement Bulcke will relinquish his board roles at the conclusion of the company's next annual general meeting on 16 April 2026 to allow for a "smooth transition and an orderly handover". Bulcke's decision comes after almost five decades with Nestlé, including nine years as chairman, 14 years on the executive board, and almost nine years as CEO, according to the statement. 'It has been a true privilege and a pleasure to be part of Nestlé's journey over so many years,' Bulcke said. 'It is the right moment for me to dedicate more time to my family and to embrace my many other interests.' Bulcke was replaced by Mark Schneider as CEO in early 2017. Laurent Freixe, who was Nestlé's executive vice president and CEO of the Latin America business, then took the helm from Schneider in September last year. "I am confident that with Pablo Isla, Laurent Freixe, as well as a strong executive team and board of directors, the company is in trusted hands and will continue its promising growth and value-creation journey," Bulcke said in the statement. The Switzerland-based food and drinks major said its board plans to put forward Isla for election as chairman at the 2026 AGM. He joined Nestlé's board of directors in 2018 and since 2024 has held the roles of vice chairman and lead independent director. In his former career, Isla was the CEO of clothing company Inditex, the parent of Zara, from 2005 to 2011, and added the chairman role to his CEO duties from 2011 to 2022. Isla said: 'I am enthusiastic about taking on this new role, as I fully identify with Nestlé's nutrition, health and wellness strategy and its 'creating shared value approach' to business.' Bulcke's career at Nestlé began in 1979 and he was appointed to the executive board in 2004, overseeing Zone Americas. He became a board member in 2008 and was CEO from 2008 to 2016, taking on the role of chairman in April 2017. Nestlé said that together with Freixe, the incoming leadership team is 'well equipped' to maintain the company's position in nutrition, health and wellness. "Nestlé chair Paul Bulcke to step down as Pablo Isla nominated successor " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Business Standard
3 hours ago
- Business
- Business Standard
Vanguard group buys 1.1% stake in Vishal Mega Mart for Rs 655 crore
US-based Vanguard Group on Friday bought a 1.1 per cent stake in supermarket chain Vishal Mega Mart for Rs 655 crore through open market transactions. Following the stake buy, shares of Vishal Mega Mart rose 2.12 per cent to close at Rs 128.80 apiece on the National Stock Exchange (NSE). Investment management company Vanguard Group, through its affiliates, purchased more than 5.04 crore equity shares in two tranches, representing a 1.1 per cent stake in Gurugram-based Vishal Mega Mart, as per bulk deal data on the NSE. The shares were acquired at an average price of Rs 129.74 apiece, taking the combined deal value to Rs 655.16 crore. Details of the sellers of Vishal Mega Mart's shares could not be ascertained on the NSE. On Tuesday, Samayat Services LLP, one of the promoter entities of Vishal Mega Mart, divested a 19.6 per cent stake in the company for Rs 10,220.40 crore. Samayat Services LLP is a special-purpose vehicle owned by private equity firm Kedaara Capital and Switzerland-based Partners Group. In a separate bulk deal on the NSE, Mumbai-based Hill Fort Capital divested nearly a 1 per cent stake in Westlife Foodworld, owner-operator of McDonald's restaurants across West and South India, for Rs 104 crore through an open market transaction. As per the data, Hill Fort Capital through its arm Hill Fort India Fund LP sold 15 lakh shares of Westlife Foodworld at an average price of Rs 696.55 per share. This took the deal value to Rs 104.54 crore. Meanwhile, HDFC Mutual Fund bought 14.30 lakh shares or 0.92 per cent stake in Westlife Foodworld for Rs 99.65 crore. Details of the other buyers of Westlife Foodworld's shares could not be identified on the exchange. On Friday, the scrip of Westlife Foodworld went up 0.54 per cent to settle at Rs 700 apiece on the NSE. In another transaction on the NSE, Franklin Templeton Mutual Fund purchased 20.37 lakh shares or 0.66 per cent stake in India Cements, an UltraTech Cement company, for Rs 63.19 crore. According to the data, the shares were acquired at an average price of Rs 310.17 apiece. Details of the sellers of the India Cements' shares could not be ascertained on the bourse. The scrip of the India Cements dipped 2.38 per cent to end at Rs 312 apiece on the NSE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Barnama
2 days ago
- Business
- Barnama
WCR 2025 Performance Proves Effectiveness Of MADANI Govt's Economic Policies
PUTRAJAYA, June 19 (Bernama) -- Malaysia's performance in the World Competitiveness Ranking (WCR) 2025 demonstrates the country's investment appeal amid a challenging global landscape. Minister of Housing and Local Government Nga Kor Ming said that this achievement also underscores the effectiveness of the economic policies implemented by the MADANI Government. Malaysia jumped 11 places in the rankings to 23rd, marking the country's best performance since 2020 and signalling positive momentum in the national economic recovery and reform agenda. Nga, in a statement yesterday, said that Malaysia remains the third most attractive investment destination globally, drawing interest from global tech giants such as Intel, Microsoft, Amazon, and Infineon to expand their investments in the local market. 'Under the leadership of the MADANI Government, Malaysia's economic growth reached 5.1 per cent in 2024, exceeding the expectations of the World Bank and other international agencies. The Employees Provident Fund (EPF) dividend rate also increased to 6.3 per cent, higher than the previous year,' he said. The WCR is published annually by the Switzerland-based Institute for Management Development (IMD). It is a comprehensive report that assesses economies based on their capacity to generate and sustain a business-friendly environment that contributes to long-term prosperity. -- BERNAMA
![[Editorial] Raise competitiveness](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
2 days ago
- Business
- Korea Herald
[Editorial] Raise competitiveness
South Korea's ranking falls seven notches, affected by worsened business efficiency South Korea's global competitiveness ranking dropped seven notches in 2025. According to the Finance Ministry on Tuesday, the latest report from the International Institute for Management Development showed South Korea ranked 27th among 69 countries surveyed. It was the largest decline since the institute announced South Korea's ranking for the first time in 1997. Last year, South Korea rose eight notches from 28th to a record high of 20th, but in a year, it returned to the level of two years ago. The IMD, a Switzerland-based business school, has published its annual World Competitiveness Ranking since 1989, evaluating countries in four key factors: economic performance, government efficiency, business efficiency and infrastructure. Business efficiency was the most decisive factor dragging down South Korea's ranking this year. In that category, it dropped from 23rd to 44th and in infrastructure from 11th to 21st, but climbed from 16th to 11th in economic performance and from 39th to 31st in government efficiency. South Korea's position fell in all five sub-factors of business efficiency — productivity (from 33rd to 45th), labor market (from 31st to 53rd), finance (from 29th to 33rd), management practices (from 28th to 55th) and attitudes and values (from 11th to 33rd). Declines in its ranking were pronounced in some specific indicators, including efficiency of large corporations (from 41st to 57th), corporate response to opportunities and threats (from 17th to 52nd), agility of companies (from ninth to 46th) and attracting and retaining talent (from sixth to 29th). These results are apparently caused by a combination of the weakened competitiveness of South Korea's major industries, the rapid emergence of Chinese companies, labor-management conflict and other factors. A notable category was technological infrastructure, where South Korea's place plunged from 16th to 39th. It also scored low in the availability of digital and technological skills, cybersecurity and others. In a global market characterized by fierce high-tech and digital competition, weakened infrastructure will undermine South Korea's growth potential. The IMD competitiveness rankings cannot be seen as absolutely reliable, considering that they are much affected by an opinion survey of business executives. Yet they are useful reference data for the Lee Jae Myung government in making policy. South Korea's ranking this year can be seen as a warning from the IMD that if the country fails to revitalize enterprise activities and develop new technologies, it could drop out of global competition for good. The decline in its labor market ranking should be taken seriously. Apparently, this is caused by a rigid enforcement of the 52-hour workweek, an excessive protection of full-time regular staff compared with non-regular workers, seniority-based wage system, labor union demands for shorter working hours and legislators' moves to curtail the standard workweek to 4 1/2 days. South Korea also needs to improve productivity and management practices. The decline of its rankings in these fields indicates that South Korean companies are slow in high-tech development and underprepared to secure a competitive edge in the age of artificial intelligence. It also shows that their management innovations remain disappointing. Taipei and China, among others, are far ahead of South Korea, ranking sixth and 16th, respectively, this year. The countries compete directly with South Korea in semiconductors and many other industries. The government should analyze their competitiveness and figure out ways to narrow the gap with them. It should foster creativity and innovation, rebuild technological infrastructure and produce talent. The key to raising competitiveness is to create and maintain an environment conducive to business activity. Barriers to business should be eliminated immediately. The government should listen more carefully to business concerns about legislators' push to make the yellow envelope bill into law and revise the Commercial Act. Under the Commercial Act revision bill, company directors would have a fiduciary duty to shareholders, not only to their companies. If the two bills are implemented, South Korea's ranking could fall further next year.
Time of India
2 days ago
- Automotive
- Time of India
Swiss tech to ensure smooth ride on Gorakhpur link e-way
1 2 3 Lucknow/Gorakhpur: People taking the Gorakhpur link expressway will enjoy a world-class experience as cutting-edge Swiss technology has been used to improve the quality of ride. To enhance mobility and accessibility in the region, the state govt has tied up with ETH Zurich, a Switzerland-based entity, to provide the technology to upgrade quality of ride and experience for vehicle owners using the stretch. The same technology is also being used in Ganga Expressway and in the maintenance of other operational expressways across the state. Chief Minister Yogi Adityanath will inaugurate the 91.3-km long high-speed corridor on June 20. Through calibration, vibrations, and AI-based inputs, the independent experts from Switzerland ensured that motorists experience no bumps, roughness, or abnormal noise levels while commuting on the Gorakhpur link expressway. Using advanced vibration technology, accelerometer-based sensors, and S-motion sensors, the expressway's four-lane ride quality was scientifically evaluated. The equipment was installed in a specially outfitted Innova vehicle, which collected data during test runs. The assessment was carried out in collaboration with ETH Zurich and its spin-off firm, RTDT Laboratory AG. Based on detailed analysis, UP Expressways Industrial Development Authority (UPEIDA) implemented targeted improvements to ensure optimal ride experience. A senior officer at the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) said that the CM's office had been constantly monitoring the progress of the project. Though work on the project commenced in Feb 2020, the project got delayed due to some roadblocks. "Among major hurdles stalling the completion of the project was the change of the course of the Ghaghra. A portion of an embankment built for the safety of a major bridge constructed between Ambedkar Nagar and Gorakhpur was washed away last year after the monsoon, and repair works took time," an official said.
