COFCO names new COO and 5 new oilseed grain heads

SWITZERLAND- COFCO, the Chinese-owned agricultural firm has promoted Selina Yang as its new chief operating officer (COO), at the same time named 5 new heads for grains and oilseeds. In the newly created role, Yang will report to the CIL’s CEO, Johnny Chi with the mandate to promote coordination between the group’s global product lines…

Nestlé reports lower than expected full-year results for 2017

SWITZERLAND – Swiss food giant Nestle has reported its full year results for 2017, reporting a 2.4% organic growth, below expectations, as the new CEO Mark Schneider reported the results after his first year in charge of the company. Weak sales growth in North America and Brazil were largely blamed for the company's slower growth,…

Nestlé defends its baby milk after Changing Markets Foundation report

SWITZERLAND - Nestlé has defended itself against an activist group’s criticism of its baby milk, saying it respects international marketing standards and does not suggest its products are better than breast milk. It was responding to a report by the Changing Markets Foundation accusing the world’s largest packaged food company of putting profit before science.…

SGS says ISO 45001 version to replace OHSAS 18001:2007

SWITZERLAND - SGS, a global company for inspection, verification, testing and certification has said that they were expecting final publication of ISO 45001:2018 in March 2018. According to the company, this new version was set to replace OHSAS as the globally recognized occupational health and safety management system certification standard. Due to its importance in promoting…

Firmenich completes acquisition of Natural Flavors and Flavourome

SWITZERLAND - Firmenich, a worldwide company for creating fragrances and flavors has confirmed that it has completed the acquisition of Natural Flavors and Flavourome. The company had intentions to acquire the pioneer in organic certified flavors last year so as to help combine Natural Flavour’s wide range of organic certified and natural flavor solutions with…

Givaudan Group reports 4.9% rise in full year sales to US$5.47b

SWITZERLAND – Flavours and fragrances major Givaudan has posted its full year sales of US$5.47billion showing strong financial performance, up 4.9% from last year’s results. According to the company, the net income rose up by 11. 7% year-on-year basis, which amounted to US$771.4million and the EBITDA was of US$1167million. Givaudan completed the year with good…

Syngenta appoints Alexandra Brand as Chief Sustainability Officer

SWITZERLAND - Syngenta has appointed Alexandra Brand as Chief Sustainability Officer, a newly created role in its strive to achieve sustainable agricultural production. The newly created Business Sustainability Group working under Brand will ensure sustainable agricultural production considering the company’s Regulatory Affairs, Sustainability and Stewardship, External Affairs and Communications activities. Alexandra Brand was Syngenta’s former…

Nestlé nominates new directors for election to its Board of Directors

SWITZERLAND - Nestlé has announced that it proposed Pablo Isla, Chief Executive Officer of Inditex, Kasper Rorsted Chief Executive Officer of adidas and Kimberly A. Ross, former Chief Financial Officer of Baker Hughes, for election to its Board of Directors. According to the company, these elections will take place at the company’s Annual General Meeting…

Unilever’s Indonesian company signs MoU to support local mills and farms

SWITZERLAND - Unilever and Indonesian government-owned palm oil plantation company PT Perkebunan Nusantara (PTPN) have signed a Memorandum of Understanding (MoU) to work together in Indonesia to support local mills and smallholder farmers to produce palm oil. PTPN will provide Unilever access to its mills and its supplying farmer base as part of the signed…

Nestlé sells U.S. confectionery business to Ferrero for US$2.8 billion

SWITZERLAND - Nestle, the world’s largest food and beverage company has agreed to sell its U.S. confectionery business to Ferrero for US$2.8 billion in cash with acquisition expected to complete around the end of the first quarter of 2018 following the completion of customary approvals and closing conditions. Ferrero, best known for making Nutella, Tic Tacs and Ferrero…