Overview

• Paul Bulcke will leave the board earlier than planned, with Pablo Isla set to become chairman effective October 1.
• Bulcke has been designated Honorary Chairman in recognition of his long service to the company.
• Dick Boer will serve as lead independent director and vice chairman, and Marie‑Gabrielle Ineichen‑Fleisch will become vice chair, both starting October 1.
• The board’s moves follow Nestlé’s September dismissal of CEO Laurent Freixe for failing to disclose a relationship with a direct subordinate, with Philipp Navratil appointed as his successor.
• Shares edged lower in early trading after the announcement, as investors who had pressed for change assessed the reshaped board.