Nestle Hires Wal-Mart Exec as CFO

Martello's experience in emerging markets could aid Nestle's goal of growing revenue from those regions.

Nestle SA, the world’s biggest food company, named Wal-Mart Stores Inc. executive Wan Ling Martello as chief financial officer to succeed Jim Singh, adding an outsider to a company run by veterans.

Martello, 53, will take charge in April after Singh, 65, retires, Vevey, Switzerland-based Nestle said in a statement yesterday. Martello is currently Wal-Mart’s executive vice president of global e-commerce and emerging markets and previously held posts at Kraft Foods Inc. and Borden Foods Corp.

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