Photo captions: From L-R Managing Director/Chief Executive Officer, Mr Dharnesh Gordhon; Chairman, Board of Directors, Mr David Ifezulike; Company Secretary/Legal Adviser, Mr Bode Ayeku; and the Executive Director, Mr Sayed Saiful Islam

Nestle Digs Water Offering Deeper

Nestle, a leading global brand in nutrition, health and wellness is poised to achieve another giant stride by commissioning a new state-of-the-art, high technology water factory in Abaji near Abuja this year. This was disclosed by the Chairman, board of directors of Nestle Nigeria PLC, Mr David Ifezulike during the 46th Annual General Meeting (AGM) of the company held at MUSON Centre, Onikan Lagos.

According to the chairman, the new N4.6 billion project which occupies 14.13 hectares represents more than just an important investment to broaden Nestle waters operation, it is also born out of the company’s commitment to the growth of Nigerian brand.

The event attracted from far and near stakeholders and shareholders of the company, who came to witness the growth and dividends of their shares with the Nestle Company.

Photo captions: From L-R Managing Director/Chief Executive Officer, Mr Dharnesh Gordhon; Chairman, Board of Directors, Mr David Ifezulike; Company Secretary/Legal Adviser, Mr Bode Ayeku; and the Executive Director, Mr Sayed Saiful Islam

In his welcome address, the chairman emphasised that for the company to prosper over the long term, there’s the need to create values for shareholders and the society. This according to him is called ‘creating shared value.’ The creating shared value approach focuses on the long term business, where the success of the society and economy activity are intertwined and mutually reinforcing.

“Our third sustainability report entitled Nestle in society: 2014 Creating Shared value report of Nestle Nigeria focuses on reporting our progress against 21 Creating Shared Value commitments. These commitments, which were introduced in 2013, make it possible for stakeholders to hold us accountable, while at the same time encouraging our management and all our employees to achieve continuous improvement,” he said.

Speaking on the company’s delivering on its commitment, Ifezulike said that the company has a major role to play in order to make valuable contribution to address some critical issues that is facing the world such as food security, nutrition and health, water, sustainability and human rights.

“Our creating shared value commitments guide Nestle management to reach these specific objectives. We take into account the views of our stakeholders, we meet regularly with NGOs, academics, government and other stakeholders to listen and learn from their suggestions and engagement. Our efforts are strengthened by these dialogues. Our commitments are the result of a methodical process to engage with stakeholders representing a range of viewpoints on key societal challenges – from nutrition and responsibility sourcing to water and environmental sustainability at every stage of Nestle value chain.”

The high points the Annual General Meeting (AGM) are; to lay before the meeting the Reports of the Directors, the Financial Statements for the year ended 31 December, 2014 and the Reports of the Auditors and the Audit Committee thereon, to declare a Final Dividend, to re-elect Directors, to appoint a new Independent Auditor to replace the retiring KPMG Professional Services. A notice was also given that the proposed independent Auditor to be appointed is Akintola Williams Deloitte. Other high points include; to authorise the Directors to fix the remuneration of the Auditors, to elect the members of the Audit Committee, to fix the remuneration of Directors, and to authorise the company to produce goods and services necessary for its operations from related companies.

Nestle Nigeria Plc began its trading operations in Nigeria in 1961 and has become leading Nigerian brand in food manufacturing and marketing. In the global market, Nestle companies are organised into Regional groupings to leverage expertise and the size of the company.

The company manufactures and markets a range of high quality brands such as; Infant Formula – Nestle NAN, Nestle LACTOGEN; Infant cereals – Nestle NUTREND, Nestle CERELAC; Family cereals – Nestle GOLDEN MORN; Beverage drink – Nestle MILO; Confectionery – Nestle CHOCOMILO, Nestle KITKAT; Bouillon – MAGGI Cube, MAGGI Chicken, MAGGI Crayfish, MAGGI Mix’py; and Table Water – Nestle PURE LIFE.