Unilever buys Bestfoods in the U.S., which jumps them up to rival Nestl as the world's largest food company. Durk Jager, CEO of Procter and Gamble, resigns with poor financial results. For the world's senior food executives the game is about profitability and buoying stock prices. And that is the exact same recipe that is fueling the investigation and involvement by major food companies into nutraceuticals and functional foods. Let's look at why companies cannot afford to overlook this trend.
Business is tough and turnover in the top spots seems to reduce the tenure of CEO's to shorter and shorter terms. This is particularly true in the U.S. food business where such firms as Campbell and Kellogg have had changes based on company performance and those management changes impacted those firm's projects. Add Procter and Gamble to the list. After only 18 months Mr. Jager resigned. He had been decisive, tough and had made sweeping changes. What drove the man to resign? Slow growth and poor financial performance. In his own words, "I am proud of the vision we set out to achieve with Organization 2005 and we've made important progress. It's unfortunate our progre
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