At the 150th Annual General Meeting of Nestlé S.A. on 6 April 2017, Peter Brabeck-Letmathe, Chairman of the Board of Directors, will not stand for re-election in line with the company's Articles of Association. Mr. Brabeck-Letmathe, having served Nestlé for 50 years, of which 14 years on the Executive Board, 11 years as CEO and 12 years as Chairman, will have reached the mandatory age of retirement and will relinquish all his Board functions. In order to prepare for this future role as active, non-executive Chairman and respect a minimum cooling-off period, Mr. Bulcke will resign from his present position as CEO on 31 December 2016.

The Board unanimously decided to appoint Ulf Mark Schneider as the new CEO of Nestlé S.A., starting on 1 January 2017, and propose him for election to the Board of Directors at the 2017 Annual General Meeting. Ulf Mark Schneider has been CEO of Fresenius Group since 2003.