From Dan Loeb's Third Point Management:
- Nestlé has been too slow to react to significant changes across the consumer products industry given structural issues around strategy, portfolio, and organization, and thus operates far below its potential
- CEO Mark Schneider has acknowledged the need for improvement, but pace and magnitude of change seem insufficient and reflect Nestlé’s staid, sometimes sclerotic, culture and tendency toward incremental improvements
- Nestlé is losing market share across its categories to both smaller, more nimble competitors and larger, more focused competitors
- As a result, financial performance has been weak and shares have underperformed...