President Nestlé
Peter Brabeck-Letmathe (born November 13, 1944) is an Austrian businessman. He is the chairman and former CEO of the Nestlé Group, and also served as chairman of Formula One.
Brabeck-Letmathe was born in Villach, Austria, into a family originally from Iserlohn-Letmathe in northwestern Germany. He studied economics at the University of World Trade, now known as the Vienna University of Economics and Business.
He joined Nestlé in 1968 in Austria as a salesman and later became a specialist in new products. His career with the group included almost a decade in Chile (1970–1980), first as national sales manager and later as marketing director. 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 in Vevey. As senior vice president in charge of the Culinary Products Division, he held global responsibility for that business area.
On January 1, 1992, Brabeck-Letmathe was appointed executive vice president of Nestlé S.A., with global responsibility for the Strategic Business Group for food, covering Buitoni pasta, chocolate and confectionery, ice cream, pet food, and industrial products such as flavors. At the same time, he oversaw global marketing, communications, and public affairs. During his tenure as executive vice president, he conceived and implemented Nestlé’s single brand policy, characterized by a strict hierarchy of global, regional, and local strategic brands.
On June 5, 1997, he was elected to the board of directors and appointed CEO of Nestlé S.A. On April 6, 2001, the board elected him vice chairman, and in April 2005, he became chairman of the board.
In 2008, Brabeck-Letmathe stepped down as CEO.