13 November 1944 |
|Alma mater||Vienna University of Economics and Business Administration|
|Title||Chairman of Nestlé|
Brabeck-Letmathe was born in Villach, Austria, into a family with its origins in Iserlohn-Letmathe in North West Germany. He studied economics at the University of World Trade (today Vienna University of Economics and Business Administration).
Early career at Nestlé
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 (1970–1980), 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 Nestlé's international headquarters in Vevey. As senior vice-president in charge of the Culinary Products Division, he had worldwide responsibility for that business area. On 1 January 1992, Mr. Brabeck-Letmathe was appointed executive vice-president of Nestlé S.A., the world's leading food company, with global responsibility for the Strategic Business Group encompassing food, Buitoni pasta, chocolate and confectionery, ice cream, pet food, as well as industrial products (aromas). At the same time, he had worldwide responsibility for marketing, communications and public affairs. In particular, during his time as executive vice-president, 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.
CEO of Nestlé
On 5 June 1997, was elected to the board of directors. On the same day, he was appointed chief executive officer of Nestlé S.A. On April 6, 2001, the board of directors of Nestlé S.A. elected him as vice-chairman of the board, and, in April 2005, chairman of the board.
In 2008, Brabeck stepped down as CEO.
Political views and criticism
Opposition to water as a basic human right
Brabeck-Letmathe (credited as Peter Brabeck) appeared in the 2005 documentary We Feed the World, in an interview at the end of the film. He said that the idea of water as a basic human right was "extreme," and that he believed water should have value like any foodstuff. He also affirmed that Nestlé was part of the solution to world poverty by employing so many people.
Accusations of bad corporate ethics
During his tenure as CEO, he jointly garnered a Black Planet Award in 2007, along with Liliane Bettencourt. The award is bestowed on individuals dedicated to the destruction of the planet. Brabeck and Bettencourt through Nestlé were accused of proliferating contaminated baby food, monopolising water resources, and tolerating child labor.
Mr. Brabeck-Letmathe is on the board of directors of Credit Suisse Group, L'Oréal, and ExxonMobil. He is also a member of ERT (European Round Table of Industrialists) and a member of the foundation board of the World Economic Forum. His earnings in 2006 were approximately 14 million Swiss francs (9 million Euro).
- "Peter Brabeck-Letmathe". huffingtonpost.com. Retrieved 17 July 2012.
- Elizalde, Pablo. "Nestlé's Peter Brabeck becomes Formula 1 chairman ahead of flotation". Autosport. Retrieved 25 May 2012.
- "Peter Brabeck: "To Enjoy Life, You Need to Enjoy Food", Daniel Huber. Credit Suisse. July 1, 2008. Accessed March 23, 2011
- "Nestlé-Konzernchef Peter Brabeck: "Zugang zu Wasser sollte kein öffentliches Recht sein."".
- "Nestlé wins the Black Planet Award 2007", International Baby Food Action Network. October 16, 2007. Accessed March 23, 2011