Upon his arrival in 2006, Paul Polman, Nestlé’s Chief Financial Officer, had embarked on a strategy of “finance enabled transformation”. His analysis had revealed that Nestlé’s working capital performance was below par vis-à-vis its competitors and that this had contributed to lower price/earnings (P/E) ratio, EBITDA margin, and Return on Capital Employed. He therefore set new targets of sustainable growth, continued improvement of EBIT margin, and responsible capital management.
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