Watch out Beyond Meat and Impossible Foods. Nestlé has gotten the plant-based religion. “The one big theme where we can make a lot of progress in health and make progress on sustainability at the same time is plant-based nutrition,” Nestlé CEO Mark Schneider told the Fortune Global Forum audience on Tuesday. He said the company has come up with what he called a “triple play”—a bacon cheeseburger that is entirely plant based. I’d be happy to hear from CEO Daily readers who’ve tried it.
Asked whether Nestlé was trying to capitalize on the success of the above-mentioned startups, Schneider said the company has been working on plant-based solutions for decades: “This is an overnight success that has taken us 30 years.”
Also Tuesday, L’Oréal CEO Jean-Paul Agon talked about how his company is capitalizing on the exploding interest in beauty products in the China. He said China is now his company’s second largest market, after the U.S., and growing 40% a year. Young Chinese “have a strong appetite for our brands.” And as a result, the company is enjoying its best growth in decades, Agon said.
New Sanofi CEO Paul Hudson told the group there has “never been a better time to become CEO.” Using A.I. and other new technologies “we can let go of prejudices and ways of working that are decades old, and we can look at new ways of working. We can rethink the everyday.” He said Sanofi is using A.I. to do two things: “To create individual medicines, which is like finding a needle in a haystack, and then to manage the health, not of one person, but a population.”
Finally, acting Groupe Renault CEO Clotilde Delbos—who wouldn’t comment on whether she wanted the job permanently, but certainly acted like it—said she is not concerned that the transition to autonomous vehicles being shared by multiple drivers would ultimately depress sales: “You are going to be using this car so much that the lifespan is going to be two to three years, not seven. You’re going to need fewer cars, but you will need them more often.”
More from the forum here. Other news below.