Nestlé’s New CEO Arrives With Fighting Talk and 16,000 Job Cuts

Nestlé SA’s new chief executive officer, Philipp Navratil, may be following a strategy set in place by his ousted predecessor, but he’s quickly putting his own hard-driving spin on it.

Just weeks into the role, he announced plans to slash 16,000 jobs while reporting better-than-expected quarterly sales, sending the Swiss food group’s shares to their biggest gain in 17 years.