Nespresso Reshuffles as Rivals Wade In
Michael Chen
Senior Web Developer
Nestlé SA Wednesday said it was switching the management at its highly profitable Nespresso capsule coffee business as it faces slowing growth in Europe and hotter competition from companies such as Starbucks Corp.
Richard Girardot, who has been chief executive at Nespresso since 2007, will be replaced by Jean-Marc Duvoisin, currently Nestlé's head of human resources. The Nespresso division had sales of more than 3 billion Swiss francs ($3.1 billion) in 2011.
Mr. Duvoisin, a 26-year veteran at Nestlé, will take up his position at Nespresso from March 2013, when Mr. Girardot takes charge in France, Nestlé's second-biggest market.
Source: online.wsj.com/article/SB10001424127887324352004578132943986605034.html?KEYWORDS=Nespre
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