Nestle India CFO To Step Down

The position will be replaced by Russian national Svetlana Boldina


The Swiss company, Nestle has announced that their Chief Financial Officer David Steven McDaniel will leave the position from 1st March 2023, and will be replaced by Svetlana Boldina. Currently, she is working as the Head of Finance and Control, Nestle Indonesia which would be subject to approvals, as per a regulatory filing from Nestle India. 

In an official statement, Nestle India said "David Steven McDaniel, Executive Director - Finance & Control and Chief Financial Officer, shall demit office effective from March 1, 2023." The statement further informed about the new assignment of McDaniel. The new CFO Boldina is a Russian National and has worked in the Nestle markets in Russia, Eastern Europe, and Indonesia.

The official statement further stated, "The above proposal shall be placed before the audit committee and the board of directors of the company in the ensuing meetings for consideration, on the recommendation of the nomination and remuneration committee."

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