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Nestl boss says he should have seen off rivals

NESTLE, the world&rsquo;s biggest food group, should have reacted faster to competitors&rsquo; price cuts to avoid slowing sales, chief executive Paul Bulcke said in an interview.<br /><br />Bulcke said the group, whose sales growth this year lagged that of competitors such as Unilever, Danone&nbsp; and Kraft Foods, should have seen the danger of losing market share to aggressive pricing by competitors earlier.<br /><br />&ldquo;Sometimes during the year we should have engaged faster to counter these actions... Sometimes we should have had more intensity in our reaction,&rdquo; Bulcke told the Wall Street Journal.<br /><br />However, the Nestle chief said the company&rsquo;s long-term business plan remained intact, and had &ldquo;traction&rdquo; and &ldquo;mileage&rdquo;.