Third Point’s Loeb calling for more changes at Nestle

Billionaire investor Dan𓆏 Loeb is pushing Nestle to speed up its turnaround pꦡlan.

In the seven months since Loeb’s Third Point hedge fund announced a $3.5 billion stake in the packaged goods company, s🍨eve👍ral changes have already been made — but the hedgie would like to see the pace quickened.

“We hope now that [CEO Dr. Mark Schneider] has completed his first year and there is new blood on the Board, the company is able to move with greater alacrity,” Loeb wrote in a letter to investors Monday, a✤cknowledging “unique cultural and structural constraints” at Nestle.

Just last week Nestle announced the sale of its US candy business to Italy-based F🐻errero. Now the hedge fund wants to see Nestle unload its stake iಞn beauty brand L’Oreal — despite its history of “excellent returns.”

“Today, it is simply unclear how owning a minority stake in a beꦚauty business makes Nestle a stronger ‘nutrition, health, and wellness’ company,” Loeb said.

Loeb also wants Nestle to clarify🦄 its health strategy and “acceleꦍrate and even expand” its 20 million Swiss franc buyback program.

In the broader market, Loeb, whose fund returned 18.1🌌 percent in 2017, seemed cautiously optimistic about 2018.

“While growth is unlikely to accelerate much further, easy financial conditions and pending fiscal stimulus can sustain growth ar𒈔ound🐷 current levels,” Loeb said.