Peter Brabeck-Letmathe | |
|---|---|
 Brabeck-Letmathe in 2008 | |
| Born | (1944-11-13)13 November 1944 (age 81) |
| Alma mater | Vienna University of Economics and Business Administration |
| Occupation | Businessman |
| Years active | 1965–present |
| Title | Chairman emeritus,Nestlé, until April 2026 |
Peter Brabeck-Letmathe (born 13 November 1944) is an Austrian businessman. From 1997 to 2008 he was theCEO of theNestlé Group,[1] chairman 2005-2017[2] and then chairman emeritus until April 2026.[3] He is a former chairman of theFormula One Group.[4] and served for a short time asad interim chairman of theWorld Economic Forum in 2025.[5][6][7]
Brabeck-Letmathe was born inVillach, at the time part ofNazi Germany, to a Catholic[8] family with its origins inIserlohn-Letmathe in north-western Germany. He studied economics at the University of World Trade (todayVienna 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 inChile (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 inVevey. As senior vice-president in charge of the Culinary Products Division, he had worldwide responsibility for that business area. On 1 January 1992, Brabeck-Letmathe was appointed executive vice-president of Nestlé S.A., 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 vice-president, he conceived and implemented the uniquebranding 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 S.A. On 6 April 2001, the board of directors elected him as vice-chairman, and in April 2005, chairman of the board. His earnings in 2006 were approximately 14 millionSwiss francs (9 millioneuro).[citation needed]
In 2008 Brabeck-Letmathe stepped down as CEO[9] but remained as Nestlé chairman until 2017[2] and chairman emeritus until 2026.[3]
Brabeck-Letmathe (credited as Peter Brabeck) appeared in the 2005 documentaryWe Feed the World and while speaking on the subject of water, he said "It's 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. That's 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 it's better to give a foodstuff a value so that we're 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."[10][11] Following controversy on social media about these remarks, he stated that he does believe that water for basichygiene and drinking is indeed a human right. He went on to say that his remarks were intended to addressoverconsumption by some while others suffered from lack of water and further that his remarks were takenout of context by the documentary.[12][13]
Brabeck-Letmathe was on the board of directors ofCredit Suisse Group,L'Oréal, andExxonMobil. He was a member of ERT (European Round Table of Industrialists)[14][15] and a member of the Board of Trustees of theWorld Economic Forum and served as interim chairman until stepping down in 2025 citing a toxic work environment.[16][17] He was chairman ofFormula One Group.[4]
According toEuronews, Peter Brabeck-Letmathe is a close friend ofKonstantin Sidorov, founder and CEO of London Technology Club.[18]
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