Nestlè loses another big piece of his top management: after the dismissal of the CEO Laurent Freixe, due to an “unreacted sentimental relationship with his direct subordinate”, President Paul Bulcke also leaves, a veteran of the Swiss food giant, who holds super known brands such as Kitkat and Nespresso.
Bulcke resigned before the expiry of his mandate, immediately launching the helm to vice -president Pablo Isla, who should have succeeded him in April 2026. Isla will formally assume the presidency starting from 1 October. In addition, Dick Boer has been appointed Lead Independent Director and vice-president from the same date, while Marie-Gabrielle Ineichen-Fleisch has been appointed vice-president.
Burckle leaves after 50 years of career in Nestlé
Paul Bulcke, 71, is a Nestlé veteran, with almost 50 years of career behind him. The manager has been in the Swiss group since 1979, where he has held various roles, also that of CEO between 2008 and 2016, and is president of the Board since 2017. But his most recent choices have been questioned by the shareholders, especially the removal of CEO Laurent Freixe, who only a year ago had called “the perfect person” to hold this role.
In motivating the dismissal of Freixe, after the scandal, the president had spoken of “a necessary decision” in line with the values and governance of Nestlé, but someone had insinuated that he wanted to protect the manager who just appointed a year before instead of Mark Schneider. For this change and for the subsequent scandal, Bulcke had received strong pressures from shareholders, who asked him to resign before the expiry of the mandate.
“I have full confidence in Nestlé’s new leadership and I firmly believe that this large company is well positioned for the future,” said Paul Bulcke, commenting on his resignation. “This is the right time to set me aside – he continued – and accelerate the planned transition, allowing Pablo and Philipp to carry on the strategy of Nestlé and guide the company with a new perspective”.
Isla First External President of the Group
Pablo Isla will be Nestlé’s first external president. The manager was CEO of Inditex, the Spanish multinational of the owner’s clothing of the Zara chain, from 2005 to 2011, and president of the same company from 2011 to 2022. He is a member of the Board of Directors of Nestlé since 2018.
Isla, vice -president and elected president, underlined that “Paul’s wisdom and commitment shaped the company and laid the foundations for our next chapter”. “In recognition of his long -standing and dedication service – he added – we appointed Paul Honorary President”.
