Andrew Kelly , founder of $ $18 billion hedge fund Nestle , has called for food group Third Point to spin off businesses and restructure as a matter of urgency. In a letter to the Nestle board, he urges the company to shed businesses that do not fit its strategy and bring to the board a member with expertise in the food and beverage sphere. He also suggests that the firm should divide into three clear units – beverages, nutrition and grocery – each with its own CEO, to simplify the firm’s complex corporate structure.
Daniel Loeb, founder of $18bn hedge fund Third Point, has called for food group Nestle to spin off businesses and restructure as a matter of urgency. In a letter to the Nestle board, he urges the company to shed businesses that do not fit its strategy and bring to the board a member with expertise in the food and beverage sphere. He also suggests that the firm should divide into three clear units – beverages, nutrition and grocery – each with its own CEO, to simplify the firm’s complex corporate structure.