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Nestle Shares Advance as New Outsider CEO Presages Shakeup

  • First time in almost a century Nestle doesn’t pick insider
  • Shares gain 2.7% as investors welcome Schneider’s appointment
Updated on

Nestle SA rose the most in more than four months as investors welcomed the surprise appointment of Fresenius SE’s Ulf Mark Schneider as successor to Chief Executive Officer Paul Bulcke.

The stock gained 2.7 percent to 73.05 Swiss francs at 10:16 a.m. in Zurich as analysts said the health-care executive’s arrival may portend a strategic revamp at Europe’s biggest company by market value.