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Everyone at Nestl� replaceable within 24 hours, former CEO says

By Thomas Hochwarter

An Austrian manager who headed food-stuffs giant Nestl� 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 Nestl� in 1968 before consistently working his way up the company.

Today � after being with Nestl� 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 Nestl�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 Nestl�," he said, adding his responsibilities at the firm take up 75 per cent of his time.

Austrian Times

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Venezuelan Austrian headed Hugo consistently president perspectives Credit Roche conditions Chavez responsibilities supposed politicians Letmathe Suisse Brabeck Oreal replaceable Nestl

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