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[$$] Nestlé defends governance amid pressure from activist investor

Leila Abboud 

Nestlé’s leadership has defended its governance arrangements against criticism from an influential activist investor, insisting that the collaborative relationship between the chief executive and chairman was not hindering the Swiss food company’s growth plans. Corporate governance practice in the UK and the US typically frowns upon chief executives becoming board chairman and overseeing their successors. Nestlé has had such an arrangement — which is more common in European countries — for decades.