By  on February 19, 2009

PARIS — Nestlé SA said it will not alter its stake in L’Oréal in April, but industry watchers still believe a change could take place in the mid- to long-term.

“We are not in a hurry to do anything,” Jim Singh, Nestlé’s chief financial officer, said during a financial analyst conference call Thursday to discuss its 2008 results. He explained the Swiss food giant, which holds 30.6 percent of L’Oréal, would uphold its commitment to Liliane Bettencourt, who with her family owns 30.8 percent of the French beauty giant. Bettencourt is the 86-year-old daughter of L’Oréal founder Eugene Schueller.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus