Peter Brabeck-Letmathe, chairman and chief executive of Nestlé, has acknowledged pension funds’ role as primary stakeholders in the food group.  The comments come just over a year after the company defeated a corporate governance motion brought against it by a group of Swiss pension funds. The company had accused the pension funds of “mistrust”.  “Let me say first of all that our primary responsibility is to our shareholders – those hundreds of thousands of people who have entrusted their life savings to us – either as individual shareholders, or as members of institutional pension funds that own the majority of our stock,” Brabeck-Letmathe said.
Nestlé CEO: pension funds are main stakeholders