Nestle will cut additional costs, increase marketing under CEO Freixe By Reuters

VEVEY (Reuters) – Nestle (NS:) will increase advertising and sales, cut costs, separate its premium water and beverage business across the company, and make other changes to boost growth under new CEO Laurent Freixe, the company said Tuesday.

The company expects to save costs of at least 2.5 billion Swiss francs ($2.83 billion) by the end of 2027, in addition to existing efforts.

In the medium term, Nestle said it expects organic growth of more than 4% in the general operating environment, and a trading operating profit margin of 17%.

($1 = 0.8835 Swiss francs)