Nestle Reaches Out on $1.5 Bil. Global Media

NEW YORK Nestle is talking to holding companies about its estimated $1.5 billion global media account, sources said.

The Swiss company’s $560 million U.S. media buying is handled by Interpublic Group’s Universal McCann. Other media shops on the marketer’s global roster include WPP Group’s MindShare, Publicis Groupe’s Optimedia and Omnicom Group’s OMD.

Executive changes sparked the search, sources said. In January, Ed Marra, president and chief executive of Nestle Canada, took over as executive vice president of worldwide marketing from the retiring Frank Cella. Marra is “looking at where he can achieve cost savings,” said one source, adding that the process is expected to be completed by the summer.

Executives at Nestle USA in Glendale, Calif., referred calls to the company’s headquarters in Vevey, Switzerland. Executives there could not be reached for comment.