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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3551)	1/24/1999 1:12:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Nestle (India) Ltd-New Chief,new agenda. Nestle opens up to a new agenda New chief executive Carlo Donati sets his company a radically different strategy from his controversial predecessor, says Surajeet Das Gupta In July last year, when Carlo Maria Donati took over as managing director of Nestle India, the company administration asked him whether he wanted a room reserved for office work at his farmhouse residence in Gurgaon on the edges of Delhi. Donati's answer was unequivocal: “I do not want to take work back home.” For his colleagues in India, that was the first signal of radical change in Swiss multinational Nestle SA's Rs 1,435-crore (Rs 100 crore = Rs 1 billion) subsidiary. Most of them were still recovering from the abrupt and controversial departure just three months before of his larger-than-life, workaholic predecessor, Daraius Ardeshir. By the time the first few strategy meetings were over, senior executives soon learnt that the contrast didn't stop at Donati's lifestyle either. Within weeks of taking over, the Swiss-Italian chief executive set out a strategy and operating style that couldn't have differed more. Out went the target of doubling turnover in three years, which was a key component of Ardeshir's strategy. Instead, “we'll be happy to maintain our present growth rate of about 21 per cent over the next couple of years,” he says. “How many companies can boast of such growth rates?” he adds by way of explanation..... Stock Price as on 1/22/99 NSE(National Stock Exchange) Closed= Rs.515 52 week high= Rs.540 52 week low= Rs.279.25 P/E = 56.15 business-standard.com