Zeenat Moorad Associate editor: Financial Mail

Daniel Loeb, the sharp-tongued activist investor, has run out of patience. In a 34-page letter to top management at Nestlé that was made public on Sunday, he says changes initiated by the Swiss conglomerate to address investors’ concerns over its poor growth are too small and too slow. This would be a good time to remind you, dear reader, that the firm’s sales rose only 2.4% last year — the slowest rate in more than two decades. Its share price has declined more than 8% so far this year. "Nestlé’s insular, complacent, and bureaucratic organisation is overly complex, lethargic and misses too many trends," Loeb writes. "The company has been woefully late to participate in some of the key new trends that have driven growth in food and beverages, allowing incipient brands and more focused competitors to capture market share." If you are a regular Shoptalk reader — and you damned well better be — you will know that multinational food groups are being squeezed by supermarket groups demand...

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