雀巢中国婴配粉业务新架构：以谢国耀为中心

Core Insights - Nestlé China has announced the merger of its Wyeth Nutrition and Nestlé Infant Nutrition businesses, effective January 1, 2026, to form a new Nestlé Nutrition business unit [1][2] - The restructuring aims to combine the strong brand influence of Wyeth's Enfa and S-26 with Nestlé's advantages in industry and channels for sustainable growth in a competitive market [2] Company Structure - The new leadership structure for the integrated infant nutrition business will be divided into three main functional areas: market development, sales and operations, and enabling functions [1] - Market development will have two independent teams responsible for the Enfa and Gerber brands from Nestlé and the Enfa and S-26 brands from Wyeth, led by Xu Zhen and Wang Ying respectively [1] Market Conditions - The infant formula market is facing challenges, with a growth rate of only 0.6% in Q2 2025, and a decline in marriage registrations in China by over 20% in 2024, indicating a decrease in newborns [3] - Market differentiation is intensifying, with leading companies like Yili, New Dihua, and FrieslandCampina expanding, while brands like Feihe are experiencing market share declines [4] Strategic Implications - The merger is expected to reduce internal redundancies and create synergies, which is crucial in a highly competitive market [5] - The infant nutrition business is seen as a cornerstone for Nestlé's performance in Greater China, especially as the region's organic growth rate was reported at -10.4% in Q3, continuing a downward trend from Q2 [5]