A coalition of investors, led by ShareAction, has filed a resolution asking the maker of Kit Kat chocolate bars to set an internationally accepted target to increase the proportion of sales of healthier foods, at a time of surging ill health related to poor nutrition worldwide.
For the measure to pass, at least 50% plus one vote of the registered share capital represented at the annual meeting in April would need to be cast in favor of the resolution.
Nestle shares were little changed in early trading.
The stock is down about 10.5% in the past year. Pressure is growing on food companies to make their range of products healthier. Unhealthy diets are a driving factor behind the global growth rates of obesity, increasing the risk of diabetes, heart disease, stroke and some cancers, according to the World Health Organization (WHO). The health agency estimates that obesity will cost the global economy $4.3 trillion a year by 2035.
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