"These names have overtones which are out of step with Nestlé's values, which are rooted in respect," a statement said today. "While new names have not yet been finalised, we will move quickly to change these names. "This decision acknowledges the need to ensure that nothing we do marginalises our friends, neighbours and colleagues. " Allen's Lollies, the company which produces Red Skins and Chicos for Nestlé in Australia, also released a statement on the name change in light of "comments we have received on the need for change." "At Allen's we are about creating smiles. Today we announced that we will change the name of Red Skins and Chicos lollies," the statement said. "This decision acknowledges the need to keep creating smiles, ensuring that nothing we do marginalises our friends, neighbours and colleagues, or is out of step with our values." The move follows similar decisions by a number of multinational companies in light of recent racial inequality debates. Colgate this month also announced a review of its toothpaste brand Darlie, which once featured a smiling white man in blackface. The popular brand, which is sold in China, the Philippines, Thailand and other Asian countries, has long been criticised for using racist imagery. Meanwhile, pharmaceutical and consumer products giant Johnson & Johnson has also said it will stop selling skin-whitening creams popular in countries like India. "Conversations over the past few weeks highlighted that some product names or claims on our dark spot reducer products represent fairness or white as better than your own unique skin tone," Johnson & Johnson said in a statement.