Nestle Proposes Apple’s CFO for Election to its Board of Directors

Sweden based food and drink processing company Nestle SA (SWX: NESN) has proposed Luca Maestri, the chief financial officer at Apple Inc. (AAPL) for election to its board of directors. Nestle also proposed Chris Leong, the chief marketing officer at Schneider Electric, for the same position also.

The said election will be conducted on April 7 during the company’s annual general meeting. The company says Veneman will retire from the board, and Kasper Rorsted has decided not to stand for re-election.

The board will be proposing re-election of the chairman and all other serving members of the board.

With the proposed nominees, Nestle will have a board of directors comprising of 14 members out of which 12 will be independent directors.

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