(Bloomberg) As new Nestle SA Chief Executive Officer Mark Schneider prepares to lay out his strategic vision for the Swiss food giant, his plans will be overshadowed by a changing of the guard at another European consumer-goods giant — L’Oreal SA of France. Nestle owns 23 percent of the French cosmetics maker, and the death of heiress Liliane Bettencourt raises questions about the future of the investment. Hedge-fund chief Dan Loeb wants the Nespresso coffee owner to sell the stake, giving it the financial ammunition for a bigger transformation than anything analysts expect from Schneider’s first major presentation to investors.
Nestle Chief’s Strategic Vision Shrouded by Death at L’Oreal
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