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Nestle's Brabeck to curtail advertising

Published on .

Peter Brabeck, the global marketing chief at Nestle replacing Helmut Maucher as CEO in June 1997, is expected to slash the company's use of advertising and boost direct marketing when he takes charge. "Advertising is having a harder time reaching its given target; one has to use new means," said a spokesman for Mr. Brabeck. Swiss finance analysts have given the thumbs up to Mr. Brabeck's appointment. Nestle's share price jumped to $1,076 on Nov. 29 from $1,062 the previous day. Before the news, shares slumped to $1,045 the previous week when Nestle predicted lower profits for 1995 compared with last year's $5.19 billion.

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