• croatiantimes.com
• romaniantimes.at
• salzburgtimes.at
• viennatimes.at
• austrianindependent.com

Today

• Vienna - Johnny\'s Pub Quiz
• Vienna- January and February at the Austrian Film Museum
• Vienna - Art by Petronilla Hohenwarter.
• STOMP at the MuseumsQuartier
• Ice skating at Rathaus

20. 08. 09. - 16:00

• more Business news
• RSS Feed Business

20. 08. 09. - 16:00

Everyone at Nestlé replaceable within 24 hours, former CEO says

By Thomas Hochwarter

An Austrian manager who headed food-stuffs giant Nestlé for eleven years has said everyone at the company is "replaceable within 24 hours."

Speaking to Austrian newspaper Kurier today (Thurs) Peter Brabeck-Letmathe, who headed the Swiss company – one of the biggest brands in the world – from 1997 to 2008 before becoming part of its administrative board, said being replaceable was "an important criteria" of the company’s philosophy.

"Were I to drop down dead today we would have a replacement in the office for me tomorrow morning," the Villach-born entrepreneur said.

"Everyone working for us knows they are replaceable. It’s not just a word. No one can rest on their places," he added.

But he said it would have been the "darkest day in my life" had he been forced to order mass lay offs. "It has never happened in our (company’s) history," the 65-year-old said.

He famously started selling ice cream for Nestlé in 1968 before consistently working his way up the company.

Today – after being with Nestlé for 40 years – he says he does not feel powerful.

He said: "I don’t feel powerful at all. What is power supposed to mean?"

Brabeck-Letmathe, who argued it was politicians who were really powerful as they set the conditions in their countries, claimed there was nothing he could do if Venezuelan president Hugo Chavez decided to nationalise Nestlé’s operations in the country.

The executive and father of three said there were only benefits in being a board member for companies like Roche, Credit Suisse and L’Oreal. "I get different perspectives and that helps me in my work for Nestlé," he said, adding his responsibilities at the firm take up 75 per cent of his time.

Austrian Times

Related articles: crisis

1. AMS boss defends hesitant job seekers

   » Business 2012-02-06

   Labour Market Service (AMS) chief Johannes Kopf has taken a stand for unemployed people who refuse taking the first new job offer.

2. Anger as BA expert makes aware of social expenditure

   » Business 2012-02-06

   An economist has rubbished claims that only the financial sector is to blame for the crisis.

3. Spindelegger upsets SPÖ

   » General News 2012-02-06

   People’s Party (ÖVP) Vice Chancellor Michael Spindelegger has caused a stir by revealing details of the upcoming austerity package.

more related articles tagged "crisis"

Rising numbers of sheep and goats in Salzburg
The number of farms rearing sheep and goats has been on the increase in Salzburg, Austria for several years now. Domestic farming could still increase by a third as the European demand increases.

Strasser sues Austrian newspaper
The former European Parliament member Ernst Strasser will appear in court today (Mon) in connection with the 2011 cash for influence scandal. Strasser has accused the Upper Austrian News (OÖN) of slander.

Staud's expansion plan
Viennese jam company Staud’s who are famous for their preserve and compote range are expanding production in the capital. The plan calls for the building of a new company site in two years’ time in Ottakring. A new production hall will also be adapted at the current site in Hernals before then.

Le Salzgries
I enjoyed perhaps my most pleasurable eating out experience of the last thirty years one Thursday evening at Le Salzgries.

Record number of callouts as diesel freezes
The bitterly cold temperatures have not only been causing problems for humans in Austria but also for cars. In such harsh conditions, diesel in cars is known to crystallise and the engine cut out altogether.

Freezing temperatures claim life in Vienna
The freezing cold temperatures in Vienna, Austria claimed the life of an elderly woman over the weekend. The 86-year-old was found dead in her garden in the early hours of Sunday morning.

Baby taken over speeding fine
Austrian social workers have taken a baby away from his teenage mother because the toddler's grandmother had not paid a speeding fine.

Best of the winter bookshelf, part two
The Austrian Times offers an overview of what German-speaking Europe’s publishing houses have to offer.

ORF forced to leave Facebook
A media rights watchdog has ordered the ORF to exit Facebook.

Have mercy on gays, says Church rebel
The head of a group of "disobedient" parish priests has called for mercy on homosexuals.