(Reuters) -Swiss food giant Nestle is refocusing on the group’s core business after straying into segments like health supplements that “weakened the fabric of the organisation,” CEO Laurent Freixe was quoted as saying in the Financial Times on Thursday.
Freixe, who took the helm of the company in September, told the newspaper he did not see the merits of slimming down the company’s portfolio, except in segments where Nestle was not in a position to win.
“I think we should never forget that M&A is not the strategy,” he was quoted as saying.
In another interview earlier this week, Freixe said Nestle was recovering market share in the U.S. despite concerns stemming from the Trump administration’s imposition of tariffs on its key trading partners last month.
(Reporting by Ariane Luthi, editing by Kirsti Knolle)
