Hedge fund Third Point praises Nestle chief in letter to investors

BOSTON (Reuters) - Hedge fund Third Point told investors in a letter on Thursday that it was happy with progress at some of its biggest holdings, including Nestle SA, and was well positioned to make money when the market sells off anew. The $14 billion firm, run by Daniel Loeb, said in the letter that it was confident in Nestle Chief Executive Mark Schneider's leadership. The letter, seen by Reuters, also said Third Point had helped recruit Mark Clouse as CEO of Campbell Soup Co last year and that it was 'confident Campbell has a good long-term case for value creation.' (Reporting by Svea Herbst-Bayliss; editing by Jonathan Oatis)

Reuters February 22, 2019 03:06:09 IST
Hedge fund Third Point praises Nestle chief in letter to investors

Hedge fund Third Point praises Nestle chief in letter to investors

BOSTON (Reuters) - Hedge fund Third Point told investors in a letter on Thursday that it was happy with progress at some of its biggest holdings, including Nestle SA, and was well positioned to make money when the market sells off anew.

The $14 billion firm, run by Daniel Loeb, said in the letter that it was confident in Nestle Chief Executive Mark Schneider's leadership. The letter, seen by Reuters, also said Third Point had helped recruit Mark Clouse as CEO of Campbell Soup Co last year and that it was "confident Campbell has a good long-term case for value creation."

(Reporting by Svea Herbst-Bayliss; editing by Jonathan Oatis)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.