Peter Brabeck

Peter BrabeckLetmathe born 13 November 1944 is an Austrian businessman serving since 2025 as chairman ad interim of the World Economic Forum He is the chairman emeritus former chairman and CEO 19972008 of the Nestlé Group and former chairman of the Formula One Group BrabeckLetmathe was born in Villach Germanoccupied Austria to a Catholic family with its origins in IserlohnLetmathe in northwestern Germany He studied economics at the University of World Trade today Vienna University of Economics and Business He joined Nestlé in 1968 in Austria as a salesman later becoming a specialist for new products His career within the group included a span of almost 10 years in Chile 19701980 first as national sales manager and later as director of marketing In 1981 he was appointed managing director of Nestlé Ecuador and in 1983 president and managing director of Nestlé Venezuela In October 1987 he was transferred to Nestlés international headquarters in Vevey As senior vicepresident in charge of the Culinary Products Division he had worldwide responsibility for that business area On 1 January 1992 BrabeckLetmathe was appointed executive vicepresident of Nestlé SA with global responsibility for the Strategic Business Group encompassing food Buitoni pasta chocolate and confectionery ice cream pet food and industrial products aromas At the same time he had worldwide responsibility for marketing communications and public affairs In particular during his time as executive vicepresident he conceived and implemented the unique branding policy of Nestlé characterized by a strict hierarchy of strategic brands on the global regional and local level On 5 June 1997 he was elected to the board of directors and appointed chief executive officer of Nestlé SA On 6 April 2001 the board of directors elected him as vicechairman and in April 2005 chairman of the board His earnings in 2006 were approximately 14 million Swiss francs 9 million euro In 2008 BrabeckLetmathe stepped down as CEO BrabeckLetmathe credited as Peter Brabeck appeared in the 2005 documentary We Feed the World and while speaking on the subject of water he said Its a question of whether we should privatize the normal water supply for the population And there are two different opinions on the matter The one opinion which I think is extreme is represented by the NGOs who bang on about declaring water a public right That means that as a human being you should have a right to water Thats an extreme solution The other view says that water is a foodstuff like any other and like any other foodstuff it should have a market value He added Personally I believe its better to give a foodstuff a value so that were all aware it has its price and then that one should take specific measures for the part of the population that has no access to this water Following controversy on social media about these remarks he stated that he does believe that water for basic hygiene and drinking is indeed a human right He went on to say that his remarks were intended to address overconsumption by some while others suffered from lack of water and further that his remarks were taken out of context by the documentary Source Article Peter BrabeckLetmathe from Wikipedia in English licensed under CCBYSA