Nestle Unveils Ice Cream Disposals, Stresses Fast Formula Recall

Nestlé SA’s new chief executive officer shrugged off the biggest infant formula recall in the Swiss foodmaker’s history with an upbeat outlook for the year and the planned sale of its remaining ice cream brands.

CEO Philipp Navratil said the turnaround at the company — whose performance has lagged for years — is on track as he forecast sales and profit growth and revealed plans to reorganize the 160-year-old group. Nestlé shares rose the most in four months.

“Our actions are starting to pay off and the growth trends are improving,” Navratil told analysts on a call. “We have ...