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April 11, 2008

SWITZ: Nestlé liberalises corporate governance rules

Nestlé shareholders have approved a number of changes that are designed to modernise the group’s corporate governance charter.

Nestlé shareholders have approved a number of changes that are designed to modernise the group’s corporate governance charter.

The company has liberalised voting rights by raising the voting rights threshold from 3% to 5%
 
It is also making it easier for shareholders to propose resolutions and big decisions will require shareholder ratification.

Moreover, the company’s directors will now serve for a term of three years instead of five.

“The rationale is to modernise our corporate bylaws and make them consistent with what is today considered state-of-the-art corporate governance,” a Nestlé spokesperson told just-food.

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