Nestle Stumbles While Reckitt Advances as CEOs Push for Growth

The chief executives of two of the world’s biggest consumer goods companies are walking back soured bets by their predecessors, shedding brands in an effort to spur growth.

Nestle SA on Thursday announced a strategic review of underperforming assets in its vitamins, minerals and supplements division, following Reckitt Benckiser Group Plc’s planned sale of some of its slower-growing homecare products.

Shares of Reckitt surged as much as 11% on Thursday after it boosted this year’s outlook for its “power brands” and raised the bottom end of guidance for group comparable sales. The market took a dimmer view of Nestle’s ...