Peter Brabeck-Letmathe
Peter Brabeck-Letmathe | |
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| Born | (1944-11-13) 13 November 1944 (age 79) Villach, Nazi Germany (now Austria) |
| Alma mater | Vienna University of Economics and Business Administration |
| Occupation(s) | Chairman emeritus, Nestlé chairman, Formula One Group |
| Years active | 1965–present |
Peter Brabeck-Letmathe (born 13 November 1944) is an Austrian businessman. He is the chairman emeritus, former chairman and CEO of the Nestlé Group,[1] and former chairman of Formula One.[2]
Early life
Brabeck-Letmathe was born in Villach, Austria, into a family with its origins in Iserlohn-Letmathe in north-western Germany. He studied economics at the University of World Trade (today Vienna University of Economics and Business).
Early career at Nestlé
He joined Nestlé in 1968 in Austria as a salesman, later becoming a specialist for new products. His career within the group included a span of almost 10 years in Chile (1970–1980), first as national sales manager and later as director of marketing. In 1981, he was appointed managing director of Nestlé Ecuador and in 1983, president and managing director of Nestlé Venezuela. In October 1987, he was transferred to Nestlé's international headquarters in Vevey. As senior vice-president in charge of the Culinary Products Division, he had worldwide responsibility for that business area. On 1 January 1992, Brabeck-Letmathe was appointed executive vice-president of Nestlé S.A., with global responsibility for the Strategic Business Group encompassing food, Buitoni pasta, chocolate and confectionery, ice cream, pet food, as well as industrial products (aromas). At the same time, he had worldwide responsibility for marketing, communications and public affairs. In particular, during his time as executive vice-president, he conceived and implemented the unique branding policy of Nestlé, characterized by a strict hierarchy of strategic brands on the global, regional and local level.
CEO of Nestlé
On 5 June 1997, he was elected to the board of directors, and appointed chief executive officer of Nestlé S.A. On 6 April 2001, the board of directors elected him as vice-chairman, and in April 2005, chairman of the board. His earnings in 2006 were approximately 14 million Swiss francs (9 million Euro).[citation needed]
In 2008, Brabeck-Letmathe stepped down as CEO.[3]
Views on water charges
Brabeck-Letmathe (credited as Peter Brabeck) appeared in the 2005 documentary We Feed the World and while speaking on the subject of water, he said "It's a question of whether we should privatize the normal water supply for the population. And there are two different opinions on the matter. The one opinion, which I think is extreme, is represented by the NGOs, who bang on about declaring water a public right. That means that as a human being you should have a right to water. That's an extreme solution. The other view says that water is a foodstuff like any other, and like any other foodstuff it should have a market value." He added, "Personally, I believe it's better to give a foodstuff a value so that we're all aware it has its price, and then that one should take specific measures for the part of the population that has no access to this water."[4][5] Following controversy on social media about these remarks, he stated that he does believe that water for basic hygiene and drinking is indeed a human right. He went on to say that his remarks were intended to address overconsumption by some while others suffered from lack of water and further that his remarks were taken out of context by the documentary.[6][7]
Other
Brabeck-Letmathe was on the board of directors of Credit Suisse Group, L'Oréal, and ExxonMobil. He is also a member of ERT (European Round Table of Industrialists) and a member of the foundation board of the World Economic Forum. He was chairman of Formula One Group.[citation needed]
According to Euronews, Peter Brabeck-Letmathe is a close friend of Konstantin Sidorov, founder and CEO of London Technology Club.[8]
Selected bibliography
- 2014: Business in a Changing Society (ISBN 9783038100126)
- 2016: Nutrition for a Better Life (ISBN 9783593434377)
References
- ^ "Peter Brabeck-Letmathe". HuffPost. Retrieved 17 July 2012.
- ^ Elizalde, Pablo. "Nestlé's Peter Brabeck becomes Formula 1 chairman ahead of flotation". Autosport. Retrieved 25 May 2012.
- ^ "Peter Brabeck: 'To Enjoy Life, You Need to Enjoy Food'" Archived 17 December 2012 at archive.today, Daniel Huber. Credit Suisse. 1 July 2008. Retrieved 23 March 2011
- ^ "Nestlé CEO Peter Brabeck". YouTube. Archived from the original on 21 December 2021.
- ^ Muir, Paul. "The human rights and wrongs of Nestlé and water for all". Retrieved 26 January 2014.
- ^ McGraw, George (25 April 2013). "Nestlé Chairman Peter Brabeck Says We Don't Have a Right to Water, Believes We Do Have a Right to Water and Everyone's Confused. (Video)". HuffPost. Retrieved 26 January 2014.
- ^ "Addressing the Water Challenge"
- ^ "Caviar with compassion will revolutionise the delicacy". euronews. 25 February 2019. Retrieved 24 November 2023.
External links
- Nestlé Corporate Website
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| Divested |
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- Nestlé India (62.76%)
- Nestlé Pakistan
- Nestlé Canada
- Nestlé Japan
- Nestlé Malaysia
- Nestlé Lanka
- Hsu Fu Chi (60%)
- L'Oréal (30.3%)
- Osem (100%)
- Yinlu Foods (60%)
- Malher (100%)
- Lactalis-Nestlé Fresh Products
- Günter Blobel
- Paul Bulcke
- Peter Brabeck-Letmathe
- Nobuyuki Idei
- Henri Nestlé
- Kaspar Villiger
- 1 Currently manufactured by General Mills in the U.S. and Canada. Produced by Cereal Partners under the Nestlé brand elsewhere. 2 Brand owned by General Mills; U.S. and Canadian production rights controlled by Nestlé under license. 3 U.S. production rights owned by The Hershey Company. 4 U.S. rights and production owned by the Smarties Candy Company with a different product. 5 U.S. rights and specific trade dress owned by Nestlé; rights elsewhere owned by Associated British Foods. 6 Produced by Cereal Partners, branded as Nestlé. 7 Produced by Cereal Partners and branded as Nestlé in the U.K. and Ireland. Produced by Post Foods elsewhere. 8 Philippine production rights owned by Alaska Milk Corporation. 9 Singaporean, Malaysian and Thai production rights owned by Fraser and Neave. 10 Used only in Indonesia, Thailand, and Cambodia. 11 Used only in the Philippines. 12 U.S. production rights owned by the Ferrara Candy Company. 13 NA rights and specific trade dress to all packaged coffee and other products under the Starbucks brand owned by Nestlé since 2019. 14 Brand owned by Mars, sold by Nestlé in Canada. 15 Produced by Froneri in the U.S. since 2020.
Category
Commons
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