Nestle’s shareholders have struck down a proposal which could have seen the KitKat and Nescafe maker reduce its reliance on unhealthy foods and cut back on the use of salt, sugar and fats. The company had argued that there is “nothing wrong” with people enjoying “indulgent products” in moderation. Some 88% of shareholders voted against the proposals, while 11% voted in favour, during the group’s annual general meeting (AGM) in Switzerland on Thursday. About 1% abstained from the vote. Nestle was facing pressure from shareholder activists through a coalition led by responsible investment charity ShareAction. The charity’s deputy chief executive, Simon Rawson, said: “While the majority of shareholders did not support the resolution, we hope that it has encouraged them to think about the public health impacts of their investments.” The coalition was challenging Nestle to change its sales targets in order to promote healthier eating among consumers. Its proposal would have seen the company report sales figures for food and drinks according to how healthy they are, based on internationally accepted standards of nutrition. It also wanted Nestle to set targets to increase the proportion of sales that come from healthier products. But the notion was rejected by the group’s...