Nestle SA’s new Chief Executive Officer Laurent Freixe is accelerating plans to revive growth at the world’s largest food company, kicking off a strategic review of struggling vitamin brands after a drop in sales volumes.
The maker of Nespresso and KitKat candy bars saw volumes decline in the second quarter, underlining the challenge facing Freixe, who took over from Mark Schneider last year. Revenue rose 2.9% on an organic basis in the first half of the year, in line with analyst estimates. Nestle shares fell 5% in early trading in Zurich.