ZURICH: Global food giant Nestle said Monday it was developing a new nutrition strategy after the Financial Times reported on an internal document showing that most of its food and drinks were unhealthy.
An internal presentation circulated among top executives earlier this year had revealed that more than 60 percent of Nestle’s mainstream food and drinks portfolio did not meet “recognized definition of health,” the British business daily reported.
The presentation, seen by the FT, revealed that only 37 percent of Nestle’s food and beverages by revenues (not including products like pet food, baby food and specialized medical nutrition) achieved a rating of over 3.5 under Australia’s five-star health rating system.
Nestle, owner of everything from chocolate to coffee and baby food brands, has for several years been reorganizing its activities to focus more on health and wellness as consumers increasingly snub frozen pizzas and sugary drinks.
The Swiss company has among other things been making a major push in vegetarian and vegan products.
“We have made significant improvements to our products,” the Nestle presentation said, according to the FT.
But, it added, “our portfolio still underperforms against external definitions of health in a landscape where regulatory pressure and consumer demands are skyrocketing.”
A Nestle spokeswoman told AFP the company was currently “working on a company-wide project to update its pioneering nutrition and health strategy.”
“We are looking at our entire portfolio across the different phases of people’s lives to ensure our products are helping meet their nutritional needs and supporting a balanced diet,” she said
The initial focus, she added, would be on “assessing the part (of) our food and beverage portfolio that can be measured against external nutrition profiling systems,” like the Australian system.
According to the FT, Nestle is aiming to unveil its new strategy this year.
Quoting an unnamed person familiar with the situation, the paper suggested the company might drop products pushing down its health ratings such as confectionery items.
Nestle eyes new strategy as leaked file show many products unhealthy
https://arab.news/cbaj7
Nestle eyes new strategy as leaked file show many products unhealthy
- Over 60% of Nestle's mainstream food and drinks portfolio didn’t meet "recognised definition of health", shows an internal document
- Nestle has for several years been reorganising its activities to focus more on health and wellness
Some Warren Buffett wisdom on his last day leading Berkshire Hathaway
OMAHA, Nebraska: The advice that legendary investor Warren Buffett offered on investing and life over the years helped earn him legions of followers who eagerly read his annual letters and filled an arena in Omaha every year to listen to him at Berkshire Hathaway’s annual meetings.
Buffett’s last day as CEO is Wednesday after six decades of building up the Berkshire conglomerate. He’ll remain chairman, but Greg Abel will take over leadership.
Here’s a collection of some of Buffett’s most famous quotes from over the years:
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“Be fearful when others are greedy, and greedy when others are fearful.”
That’s how Buffett summed up his investing approach of buying out-of-favor stocks and companies when they were selling for less than he estimated they were worth.
He also urged investors to stick with industries they understand that fall within their “circle of competence” and offered this classic maxim: “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”
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“After they first obey all rules, I then want employees to ask themselves whether they are willing to have any contemplated act appear the next day on the front page of their local paper to be read by their spouses, children and friends with the reporting done by an informed and critical reporter.
“If they follow this test, they need not fear my other message to them: Lose money for the firm and I will be understanding; lose a shred of reputation for the firm and I will be ruthless.”
That’s the ethical standard Buffett explained to a Congressional committee in 1991 that he would apply as he cleaned up the Wall Street investment firm Salomon Brothers. He has reiterated the newspaper test many times since over the years.
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“You only find out who is swimming naked when the tide goes out.”
Many companies might do well when times are good and the economy is growing, but Buffett told investors that a crisis always reveals whether businesses are making sound decisions.
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“Who you associate with is just enormously important. Don’t expect that you’ll make every decision right on that. But you are going to have your life progress in the general direction of the people you work with, that you admire, that become your friends.”
Buffett always told young people that they should try to hang out with people who they feel are better than them because that will help improve their lives. He said that’s especially true when choosing a spouse, which might be the most important decision in life.
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“Our unwavering conclusion: never bet against America.”
Buffett has always remained steadfast in his belief in the American capitalist system. He wrote in 2021 that “there has been no incubator for unleashing human potential like America. Despite some severe interruptions, our country’s economic progress has been breathtaking.”
