Nestle says brands overhaul looks likely

There are portfolio decisions for Nestle to make as world's largest food company identifies businesses that have underperformed for too long.

As first reported by Reuters, chief executive Paul Bulcke said today that there are shortlists for businesses that can be fixed and some that cannot. No specific brands were mentioned.

In a meeting with investors, Bulcke said that another main priority was scaling back capital expenditure: the company's capital expenditure should be around 4 per cent to 5 per cent of sales. He also said the company was trying to be more efficient.