Nestlé: new fund target science and nutrition

Nestlé CFO Wolfgang Reichenberger will leave the company in January 2006 to work in partnership with Dr. Gunnar Weikert of Inventages Venture Capital Investments, taking with him US$602.8 m that will fund a Nestle Growth Fund. The money will be used to fund science and nutrition developments, "investing in companies with products or processes in the final testing stage or about to come on the market," according to a company statement. Paul Polman, formerly with Procter & Gamble Co. Europe, will be Nestlé s new CFO.