Based on the Monetary Occasions, within the lead-up to the AGM, some traders requested Nestlé to set an internationally recognised goal to scale back the proportion of gross sales it makes from unhealthy items, citing regulatory and reputational dangers and rising public well being considerations. 87.88% of the votes rejected the decision, 11.07% have been in favour, and 1.05% abstained.
Paul Bulcke, president of Nestlé, defended the group’s technique in a video message to shareholders. “A small group of shareholders led by the NGO ShareAction desires us to disengage from indulgent merchandise. That is fallacious. It should prohibit Nestlé’s strategic freedom and restrict administration’s capability to make selections or accountable selections. The shareholders’ proposal is just not in our greatest curiosity, not for our shoppers, and never for you.
“Customers are more and more involved about their well being and conscious of the advantages of a balanced weight-reduction plan,” and “we’ve the required experience to help them on this course of,” he mentioned.
Ethos was one of many organizations that supported a decision tabled by the British NGO ShareAction to power the Swiss group to supply extra efforts to scale back the share of meals that’s thought of ‘too fatty, too candy, or too salty’.
Final yr, Nestlé pledged to extend “extra nutritious” product gross sales by 50% by 2030.
Thomas Abrams, a spokesperson for ShareAction, who represented the NGO on the normal meeting, mentioned they have been glad with the result: “We managed to ship a really sturdy sign to point out that traders are nervous.”
