Nestlé has appointed a little-known executive from Walmart as its global CFO.
Wan Ling Martello, executive vice-president of global e-commerce at Walmart, will take over from Jim Singh, a Nestlé veteran of 35 years, who is retiring on 31 March.
Although Martello has experience in retail from Walmart and food manufacturing from Kraft, analysts said she did “not have a superstar CV”.
“Martello comes from a small part of Walmart’s business less than 1% of sales,” said Bernstein analyst Andrew Wood. “Her profile at Walmart was not high.”
However, Wood added that with so many “insiders” in senior positions at Nestlé, an outsider’s perspective could prove useful. Martello’s “emerging markets heritage”, being of Chinese and Philippine origin, would also help Nestlé’s push into international markets, he added.