Nestlé Nominates Geraldine Matchett as Independent Director on Board of Directors

Nestlé has put forward Geraldine Matchett, formerly the Co-Chief Executive Officer and CFO at DSM-Firmenich AG, a company specializing in nutrition, health, and beauty products, as its candidate for election to the Board of Directors. The election is scheduled to occur during the company’s Annual General Meeting (AGM) on April 18, 2024.

After serving Nestlé for 12 years, Henri de Castries has decided not to seek re-election to the Board of Directors. Additionally, Kimberly A. Ross, who has been a board member for the past six years, has chosen not to stand for re-election for personal reasons. However, all other current board members and the Chairman will be proposed for individual re-election.

Paul Bulcke, Chairman of the Nestlé Board of Directors, expressed gratitude to Henri de Castries and Kimberly A. Ross for their significant contributions to the company. De Castries, in particular, served as Lead Independent Director for seven years and as Vice Chairman for six, playing pivotal roles in governance. Bulcke highlighted their dedication to Nestlé’s success while also welcoming Geraldine Matchett as a prospective new board member. He emphasized Matchett’s extensive experience as a CEO and CFO, which is expected to enhance the board’s strategic, operational, and financial expertise.

If elected, the Nestlé Board will consist of 14 members, with 12 being independent directors. Nestlé aims to continuously augment its board with diverse skill sets and knowledge.

Geraldine Matchett, a citizen of Switzerland, Britain, and France, brings relevant industry experience and a robust track record in corporate management, strategy, and finance. Until September 2023, she served as Co-Chief Executive Officer and CFO at DSM-Firmenich AG (formerly Royal DSM N.V.). Prior to her tenure at DSM, she held the position of Global Chief Financial Officer and was a member of the Operations Council at the SGS Group in Switzerland. Matchett also has experience in financial auditing roles at Deloitte and KPMG and is a Certified Chartered Accountant in the UK.

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