Corporate Governance at Nestle: The Debate Over Combined CEO and Chairman
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Code : GOV0016
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Region : Switzerland |
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Abstract: In January 2005, Nestle announced its plan to appoint Peter Brabeck as its new Chairman and Chief Executive Officer (CEO). The announcement triggered a strong opposition from a group of shareholders, led by Ethos Foundation, a pension fund, which was against Nestle's decision of concentrating the powers of the chairman and CEO in the hands of one person. It was opined that Nestle was going against the best practices of corporate governance as most of the European companies and one-third of the Fortune 500 companies had adopted the practice of splitting the roles of chairman and CEO. |
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Pedagogical Objectives:
Keywords :Corporate Governance Case Study, Corporate Governance Case Study, Nestle, Corporate governance, Europe, Combined Chairman and CEO (chief executive officer), Double mandate, Cadbury Committee Report, Peter Brabeck, Ethos Foundation, Role of Board, Succession planning, Splitting top roles, Institutional shareholder services, Board leadership, Corporate collapse
Contents :
» The Debate over Combined CEO and Chairman
» Brabeck as the Chairman and CEO
» Corporate Collapse
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