“We therefore expect our 2014 performance to be similar to last year and again weighted to the second half, outperforming the market, with growth around 5% and improvements in margins, underlying earnings per share in constant currencies and capital efficiency.”
2014 Event
Responding to increasing consumer needs, Nestlé announced on 11 February that it will extend its activities to include the field of specialised medical skin treatments through the creation of Nestlé Skin Health S.A.
This company will be managed as a wholly-owned subsidiary. Galderma will form the foundation of Nestlé Skin Health S.A. We will also merge Bübchen, our existing infant skincare business, into this newly-formed entity which will provide a sizeable platform for profitable growth. The transaction is subject to approvals.
Board proposals to the Annual General Meeting
At the Annual General Meeting on 10 April 2014, the Board of Directors will propose an increase in the dividend to CHF 2.15 per share. The last trading day with entitlement to receive the dividend is 11 April 2014. The net dividend will be payable as from 17 April 2014. Shareholders who are on record in the share register with voting rights on 3 April 2014 at 12:00 noon (CEST) will be entitled to exercise their voting rights.
In line with new legal requirements for listed Swiss companies, the Board will propose the individual election of each member of the Board of Directors for a term of office until the end of the next Annual General Meeting. Jean-Pierre Meyers is not standing for re-election. The Board wishes to thank him for his service over the past 23 years which was highly appreciated.
Furthermore, the Board will propose the election of Peter Brabeck-Letmathe as Chairman of the Board of Directors and the individual elections of the members of the Compensation Committee. The Board will also propose the election of KPMG as statutory auditors and the law firm Hartmann Dreyer Attorneys-at-law as Independent Representative for a term of office until the end of the next Annual General Meeting.
Finally the Board will submit for shareholders’ approval the amended Articles of Association revised in line with new legal requirements for listed Swiss companies.
