Nestle India Limited , a leading food and beverage company, has announced a significant change to its board composition. The company has nominated Mandeep Chhatwal to be appointed as a non-executive director, effective from January 1, 2026, subject to necessary approvals.

Board Nomination Process

The proposal for Chhatwal's appointment will be placed before the Board of Directors at the upcoming meeting for consideration, following a recommendation from the Nomination and Remuneration Committee. This move aligns with the company's commitment to maintaining strong corporate governance practices.

Mandeep Chhatwal's Profile

Mandeep Chhatwal brings a wealth of experience to his potential new role at Nestlé India:

• Current Position: Chief Financial Officer (CFO) for Zone Asia, Oceania & Africa (AOA) at Nestlé's global headquarters in Vevey, Switzerland.
• Education: MBA from the Indian Institute of Management (IIM) Ahmedabad.
• Experience: Over 30 years in the finance sector, with a strong background in strategic thinking and operational acumen.

Career Trajectory at Nestlé

Chhatwal's journey with Nestlé spans several decades and countries:

1. 1989: Began his career at Nestlé India, developing financial capabilities across factory and sales operations.
2. 2004: Transitioned to other markets within the Nestlé Group.
3. Previous Roles:
   • CFO of Nestlé Sri Lanka
   • Global Head of Financial Services
   • Head of Corporate Finance & Deputy Treasurer
   • CFO of Nestlé Philippines
4. 2021-Present: Oversees the finance function across 112 countries in the Asia, Oceania & Africa region.

Impact and Expertise

In his current role, Chhatwal is responsible for:

• Spearheading strategy
• Managing performance
• Ensuring financial governance in one of Nestlé's most diverse regions

His nomination to Nestlé India's board is expected to bring valuable global perspective and financial acumen to the company's operations in India.

This strategic move by Nestlé India to nominate Mandeep Chhatwal as a non-executive director underscores the company's focus on bringing diverse, international expertise to its board. As the food and beverage industry continues to evolve, Chhatwal's extensive experience in finance and his deep understanding of Nestlé's global operations could prove instrumental in shaping the company's future strategies in the Indian market.

Nestle India , a leading food and beverage company, has announced its decision to pass on the benefits of recent Goods and Services Tax (GST) rate reductions directly to consumers. The implementation of these benefits is set to begin on September 22, marking a significant move that aligns with the government's efforts to stimulate economic growth through tax reforms.

Consumer-Centric Approach

Manish Tiwary, Chairman and Managing Director of Nestle India, expressed the company's stance on this development, stating, "The GST rate reduction is a positive step for consumers in India, as it will stimulate consumption and contribute to the overall growth of the economy." Tiwary emphasized the company's commitment to its consumers, adding, "Nestle has been an integral part of India for over 113 years and consumers are at the heart of our business. We remain committed to the single purpose of serving consumers in all possible ways."

Transparency in Implementation

To ensure transparency and effective communication of these changes, Nestle India has taken several proactive steps:

1. Public Announcements: The company has published announcements in national and regional newspapers to inform the general public about the upcoming price adjustments.

2. Stakeholder Communication: Wholesalers, distributors, and retailers have been directly informed about the changes, ensuring that the entire supply chain is aware of the new pricing structure.

Impact on Consumer Spending

The decision to pass on GST rate reduction benefits is expected to have a positive impact on consumer spending. By lowering prices on its products, Nestle India aims to make its offerings more accessible to a wider range of consumers, potentially leading to increased sales volumes.

Long-term Commitment

Nestle India's move underscores its long-standing presence and commitment to the Indian market. With a history spanning over a century in the country, the company continues to adapt to regulatory changes and market dynamics, always keeping consumer interests at the forefront of its business strategy.

As consumers await the implementation of these price reductions, the move by Nestle India could potentially set a precedent for other companies in the fast-moving consumer goods (FMCG) sector to follow suit, further amplifying the positive effects of the GST rate reduction.

For more information about the GST rate reduction benefits, consumers and stakeholders can reach out to Nestle India's representatives:

• Ambereen Ali Shah ( ambereen.shah@in.nestle.com , +91 9717022731)
• Amit Kumar Roy ( amitkumar.roy@in.nestle.com , +91 8447737626)