Nestlé chairman Paul Bulcke steps down, Pablo Isla takes over

SWITZERLAND – The Board of Directors of Nestlé S.A. has announced that Pablo Isla will become Chairman effective October 1, following Paul Bulcke’s decision to step down from the Board earlier than planned.

After nearly 50 years of service, including 14 years on the Executive Board, almost nine years as CEO , and nine years as Chairman, Paul Bulcke has decided to step down.

Paul Bulcke joined Nestlé in 1979 and was appointed to the Executive Board in 2004, responsible for Zone Americas.

He was elected a member of the Board of Directors in 2008 and served as the company’s CEO from 2008 to 2016 and as Chairman of the Board since April 2017.

Paul Bulcke, Chairman of Nestlé, expressed his complete confidence in the new leadership of the company and stated that he firmly believed Nestlé was well-positioned for the future.

He mentioned that it was the appropriate time for him to step aside and accelerate the planned transition, enabling Pablo and Philipp to drive Nestlé’s strategy forward and lead the company with a fresh perspective.

Pablo Isla, CEO of Inditex from 2005 to 2011 and Chairman and CEO of Inditex from 2011 to 2022, joined Nestlé’s Board of Directors in 2018.

He has served as Vice Chairman and Lead Independent Director since 2024 and is a member of the company’s Nomination, Compensation, as well as its Chairman’s and Corporate Governance Committees.

Pablo Isla, Vice Chairman and Chairman Elect, commented: “On behalf of the Board of Directors, I want to express our heartfelt gratitude to Paul for his leadership and unwavering dedication to Nestlé. Paul’s wisdom and commitment have shaped the company and laid the groundwork for our next chapter. In recognition of his longstanding and dedicated service, we have named Paul as Honorary Chairman.”

Marie-Gabrielle Ineichen-Fleisch has been appointed Vice Chair of the Board of Directors.

Nestlé appoints Laurent Freixe as new CEO

In 2024, the company announced the appointment of Laurent Freixe, as its new Chief Executive Officer of Nestlé.

This appointment follows the decision of the former CEO, Mark Schneider, to step down from his role as CEO and from the Board of Directors.

Schneider has been with Nestlé for eight years, during which time he played a pivotal role in reshaping the company’s portfolio in alignment with Nestlé’s strategy.

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