Peter Brabeck-Letmathe

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Person.png Peter Brabeck-Letmathe   SourcewatchRdf-entity.pngRdf-icon.png
(businessman)
Peter Brabeck-Letmathe.jpg
Born13 November 1944
Villach, Austria
NationalityAustrian
Alma materVienna University of Economics and Business Administration
Member ofEuropean Round Table of Industrialists, World Economic Forum/Board of Trustees
Nestlé executive who attended the 2011 Bilderberg. Wants to privatize and charge for all water in the world.

Employment.png Nestlé/CEO

In office
5 June 1997 - 2008

Employment.png Nestlé/Chairman

In office
April 2005 - 2017

Peter Brabeck-Letmathe is an Austrian businessman. He is the chairman emeritus, former chairman and CEO of the Nestlé Group,[1] and former chairman of Formula One.[2]

Early life

Brabeck-Letmathe was born in Villach, Austria, into a family with its origins in Iserlohn-Letmathe in north-western Germany. He studied economics at the University of World Trade (today Vienna University of Economics and Business).

Nestlé during the Chile coup

He joined Nestlé in 1968 in Austria as a salesman, later becoming a specialist for new products. His career within the group included a span of almost 10 years in Chile (1970–1980) during the coup against the Allende government and the Pinochet dictatorship, first as national sales manager and later as director of marketing. This places him as a senior manager at a time and place where Nestlé was helping the CIA with a coup.

As part of the United States plans to overthrow the Allende government, the CIA was to destabilize the Chilean government in order to "fuel a climate conducive to the coup"[3]. William Colby, director of the CIA from 1973 to 1976, states in his memoirs that seven million dollars were spent for this purpose by the American intelligence agency[4]. The truckers' strike movement which paralyzed the country in October 1972 was financially supported by the United States. Reacting to the nationalizations carried out by the Allende government, several American firms including ITT, or international firms such as Nestlé, helped this strategy.

Further Nestlé Career

In 1981, Brabeck-Letmathe 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 had worldwide responsibility for that business area. On 1 January 1992, Brabeck-Letmathe was appointed executive vice-president of Nestlé S.A., with global responsibility for the Strategic Business Group encompassing food, Buitoni pasta, chocolate and confectionery, ice cream, pet food, as well as industrial products (aromas). At the same time, he had worldwide responsibility for marketing, communications and public affairs. In particular, during his time as executive vice-president, he conceived and implemented the unique branding policy of Nestlé, characterized by a strict hierarchy of strategic brands on the global, regional and local level.

On 5 June 1997, he was elected to the board of directors, and appointed chief executive officer of Nestlé S.A. On 6 April 2001, the board of directors elected him as vice-chairman, and in April 2005, chairman of the board.

In 2008, Brabeck-Letmathe stepped down as CEO.[5]

Other responsibilities

Peter Brabeck-Letmathe was appointed chair of the Formula One Group.

Brabeck-Letmathe was on the board of directors of Credit Suisse Group, L'Oréal, and ExxonMobil. He is also a member of ERT (European Round Table of Industrialists) and a member of the foundation board of the World Economic Forum. His earnings in 2006 were approximately 14 million Swiss francs (9 million Euro).


 

A Quote by Peter Brabeck-Letmathe

PageQuote
Water“Water is, of course, the most important raw material we have today in the world. It’s a question of whether we should privatize the normal water supply for the population. And there are two different opinions on the matter. The one opinion, which I think is extreme, is represented by the NGOs, who bang on about declaring water a public right. That means that as a human being you should have a right to water. That’s an extreme solution. The other view says that water is a foodstuff like any other, and like any other foodstuff it should have a market value. Personally, I believe it’s better to give a foodstuff a value so that we’re all aware it has its price, and then that one should take specific measures for the part of the population that has no access to this water, and there are many different possibilities there.”

 

Events Participated in

EventStartEndLocation(s)Description
Bilderberg/20119 June 201112 June 2011Switzerland
Hotel Suvretta
St. Moritz
59th meeting, in Switzerland, 129 guests
WEF/Annual Meeting/202021 January 202024 January 2020World Economic Forum
Switzerland
This mega-summit of the world's ruling class and their political and media appendages happens every year, but 2020 was special, as the continuous corporate media coverage of COVID-19 started more or less from one day to the next on 20/21. January, coinciding with the start of the meeting.


References