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yesterday

Nestlé Names Pablo Isla Chair Effective Oct. 1 After Bulcke Steps Down Early

The move follows the recent CEO ouster over an undisclosed relationship, intensifying investor scrutiny of governance.

The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy/File Photo
Paul Bulcke's early departure will cap off a change in senior executive and board leadership
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Overview

  • Paul Bulcke will leave the board earlier than planned and has been named Honorary Chairman.
  • Pablo Isla, previously vice chairman and chair-elect, will assume the chair on October 1.
  • Dick Boer has been appointed lead independent director and vice chairman effective October 1.
  • Marie-Gabrielle Ineichen-Fleisch has been appointed vice chair effective October 1.
  • The accelerated handover comes after Nestlé dismissed CEO Laurent Freixe over a conduct breach, with Nespresso chief Philipp Navratil selected to succeed him, and media reports said investors had urged Bulcke to step down.