Nestlé CEO calls for new global principles to fuel development

Nestlé CEO (Chief Executive Officer) Paul Bulcke will call for new global principles to fuel development as Co-Chair of the 41st World Economic Forum (WEF) Annual Meeting 2011.

LAST YEAR IN DAVOS: Nestlé CEO Paul Bulcke will co-chair this year's World Economic Forum Annual Meeting

The five day summit which begins today in Davos, Switzerland, will address the theme ‘Shared Norms for the New Reality’.

The event – expected to be attended by more than 2,500 international leaders from business, government and civil society – will be officially opened by Dmitry Medvedev, President of the Russian Federation.

More than 35 heads of state are also expected to participate, including Felipe Calderón, President of Mexico; David Cameron, Prime Minister of the United Kingdom; Angela Merkel, Federal Chancellor of Germany; Herman Van Rompuy, President, Council of the European Union; Nicolas Sarkozy, President of France; and Jacob Zuma, President of South Africa.

As Co-Chair, Mr Bulcke will drive discussion to focus not only on the consequences of the recent financial crisis, but also on what shared standards are needed to make global cooperation possible, as the world enters a ‘new era of interconnectedness’.

In a video interview recorded ahead of this morning’s opening press conference, Mr Bulcke described the WEF Annual Meeting as a unique opportunity to exchange ideas on important challenges on the global agenda.

He said: “The world is changing faster and more dramatically than ever. Rapid change brings increased volatility, uncertainty and ambiguity. With all that has happened in the past few years, it feels as though we are at a turning point.

“The theme ‘Shared Norms for the New Reality’ reflects this. Faced with short-term and long-term challenges, we must rethink our values, especially in the developed world. We have to organise ourselves in response to new challenges and refresh our regulations.”

Mr Bulcke also took the opportunity to emphasise that positive things are happening in the global economy, referring to the rapid development of emerging markets which has significantly reduced rates of absolute poverty.

He continued: “Companies and entrepreneurs small and large are creating jobs and opportunities, and meeting consumer demand. When run in a principled way, with strong values and a long-term perspective, business can be an engine for development and prosperity.”

Mr Bulcke will be joined in Davos by Nestlé Chairman Peter Brabeck-Letmathe. They will both participate in a number of sessions over the next five days, concluding with Mr Bulcke’s appearance in a panel debate on ‘The Future of Enterprise’ at 18.00 CET on Friday 28 January.