Vevey: Nestle has announced better-than-expected sales growth for the third quarter of 2025, marking a positive start for new CEO Philipp Navratil. The Swiss food and beverage giant saw a 1.5% rise in real internal growth, a key measure of sales volumes, surpassing analysts' expectation of just 0.3%. This growth was largely driven by strategic price increases in coffee and confectionery products like KitKat and Nespresso.

Navratil, who previously headed Nespresso, took over the CEO role after the dismissal of former CEO Laurent Freixe in September. The company has recently undergone significant leadership changes, with Chairman Paul Bulcke stepping down to be succeeded by former Inditex chief Pablo Isla.

Facing intense pressures from rising costs and a significant share price decline since 2022, Navratil is pushing for faster change and a renewed focus on performance and market share gains.

In line with his growth strategy, Nestle plans to cut 16,000 jobs over the next two years, including 12,000 white-collar positions, as part of efforts to boost efficiency and invest boldly in innovation. The company also raised its cost-saving target to 3 billion Swiss francs by the end of 2027. Navratil stressed the importance of fostering a culture that rewards winning and does not accept losing market share, underscoring the urgent need for Nestle to adapt quickly in a changing global market.

Overall, these results and initiatives provide Navratil with some momentum and breathing room as he steers Nestle toward accelerated growth and long-term value creation in a highly competitive environment.