Nestlé Appoints New Chairman and MD

Ian Donald will succeed Sullivan O'Carroll who will retire at the end of September 2014. The company say the incoming new chairman will bring the much required experience.

"Donald brings back to the country a wealth of experience in emerging markets. His career with Nestlé began in South Africa in 1972 and he has worked in various countries including Nestlé in Philippines, Malaysia and Pakistan," reads part of the statement.

Donald has been market head for Nestlé Equatorial African Region and was based in Kenya for the past two years where he was responsible for 21 countries in that region.

"I am excited to be back home and humbled by this opportunity to lead this company that has been a part of our country for almost 100 years," said Donald.

Donald also added that Nestlé is set invest two billion rand into the business over the next five years.

"Nestlé believes in Africa as an investment destination and part of our ongoing investment will include increasing capacity for our coffee factory in Estcourt, Kwa-Zulu Natal with the aim of creating a coffee hub for the region," added Donald.