Peter Brabeck-Letmathe (born 13 November 1944) is an Austrian businessman. From 1997 to 2008 he was the CEO of the Nestlé Group, chairman 2005-2017 and then chairman emeritus until April 2026. He is a former chairman of the Formula One Group. and was interim chairman of the World Economic Forum for a short time in 2025.

Early life

Brabeck-Letmathe was born in Villach, at the time part of Nazi Germany, to a Catholic 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).

Early career at Nestlé

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), first as national sales manager and later as director of marketing. In 1981, he 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, and 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.

CEO and Chairman of Nestlé

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. His earnings in 2006 were approximately 14 million Swiss francs (9 million euro).

In 2008 Brabeck-Letmathe stepped down as CEO but remained as Nestlé chairman until 2017 Following controversy on social media about these remarks, he stated that he does believe that water for basic hygiene and drinking is indeed a human right. He went on to say that his remarks were intended to address overconsumption by some while others suffered from lack of water and further that his remarks were taken out of context by the documentary.

Other

Brabeck-Letmathe was on the board of directors of Credit Suisse Group, L'Oréal, and ExxonMobil. He was a member of ERT (European Round Table of Industrialists) and a member of the Board of Trustees of the World Economic Forum and was interim chairman until stepping down in 2025 citing a toxic work environment. He was chairman of Formula One Group.

Selected bibliography

  • 2014: Business in a Changing Society ()
  • 2016: Nutrition for a Better Life ()

References

  • Nestlé Corporate Website
  • Did the Chief Executive Officer of Nestlé Say Water Is Not a Human Right?, Snopes