Paul Bulke, president of the famous confectionery company Nestle, has announced that the company is going to revise its prices, making the products more affordable for consumers.
He noted that the sharp increase in prices in recent years, which occurred during the period of the COVID-19 epidemic and the management of former CEO Mark Schneider, negatively affected the company's sales volumes.
Bulke emphasized that during Schneider's management, the company significantly reduced its marketing and advertising budget, as well as reduced investment in innovation programs, which led to a slowdown in sales growth.
