Nestle contemplates its options for L’Oreal
ZURICH, Switzerland Food company Nestle is considering all options for its stake in the French beauty company L’Oreal, according to reports.
L’Oreal has a market value of $70 billion and, according to Reuters data, Nestle has about a 28 percent stake in the cosmetics firm.
“It is irresponsible to say now what we do now with L’Oreal when you have this huge benefit of time to think about it properly and consider all of the options,” Nestle chief financial officer Paul Polman reportedly said in a Web cast.
Competitive Report to introduce two tracking resources including HBC packaging database
AMBLER, Pa. Competitive Report LLC, an information services company, has announced that it will introduce in September two new information resources—an HBC packaging database and change report, and an ingredient database.
The HBC packaging database and change report will enable manufacturers of private label and store brands to view changes in national brand packaging. The service will include email notifications when changes occur.
The ingredient database will also be available and will contain all ingredients, active and inactive, in national brand products. It will notify users when ingredients are changed. According to the company, this information will help retailers and manufacturers more easily match national brands with their store and private labels, and national brand manufacturers will be able to see in one place what is currently on the market.
All of the information will be accessible online and will contain images and relevant information.
Current services include trade pricing tracking, new product tracking, ingredient tracking and package tracking.
Colgate appoints key executives
NEW YORK Colgate-Palmolive has appointed four key executives to senior leadership positions reporting to Ian Cook, president and chief executive officer.
“In their respective roles they have all delivered excellent business results and demonstrated outstanding management skills. These promotions will create an even stronger senior management team and position us well for continued growth,” stated Cook.
- Michael Tangney was named chief operating officer for the European, Greater Asia and Africa divisions. A 35-year Colgate veteran, Tangney has led Colgate’s business operations in Latin America since 1993.
- Seamus McBride was named executive vice president, president, North America and Worldwide Commercial Effectiveness. Continuing to lead Colgate’s U.S. business operations as he has done since 2002, McBride will now assume responsibility for Canada, Puerto Rico and the Caribbean. He will also direct Colgate’s global commercial effectiveness efforts, working with retail accounts to grow sales through promotion and in-store activity.
- Fabian Garcia was named executive vice president, president, Latin America and Global Sustainability. Since 2003, when he joined Colgate, Garcia has led the company’s operations in Greater Asia, growing sales and profits throughout those regions including Russia.
- Franck Moison was named president of global business development and technology. Moison brings more than 29 years of Colgate experience to this role leading product development and sourcing worldwide. Since 2000, he has led Colgate’s business in Europe, and more recently assumed responsibility for Central Europe and Australia.