Nestlé Pakistan Limited announced on Wednesday the reappointment of Joselito Jr. Avancena as Chief Executive Officer, signaling continuity in its leadership amid a challenging market environment. At the same time, the company has appointed Syed Yawar Ali as Chairman of the Board, according to a notice filed with the Pakistan Stock Exchange (PSX).
In its full‑year 2024 results released in February, Nestlé Pakistan reported sales of Rs 193.2 billion, a 3.7% decline compared to the previous year. The company attributed the drop to macroeconomic headwinds and shifts in consumer spending.
Founded under the repealed Companies Ordinance 1984 (now the Companies Act 2017), Nestlé Pakistan is a subsidiary of Swiss-based Nestlé S.A. The firm is principally engaged in the manufacturing, processing, and sale of dairy, nutrition, beverages, and food products, including imported lines.
Key points:
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CEO Continuity: Joselito Jr. Avancena’s reappointment underscores confidence in his leadership through evolving market challenges.
- Pakistan Surpasses 7.2 Million Tax Filers Amid FBR Digitisation Reforms
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New Board Chair: Syed Yawar Ali brings extensive governance experience to steer corporate strategy and oversight.
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Financial Performance: Despite the sales decline, Nestlé Pakistan remains committed to innovation, cost discipline, and premium product expansion.
Moving forward, the refreshed leadership team will focus on driving operational efficiency, portfolio enhancement, and market penetration to reverse the sales shortfall and foster long‑term growth.
