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Nestle said on Tuesday Chairman Paul Bulcke has decided to step down, days after the Swiss food giant abruptly dismissed its CEO Laurent Freixe for failing to disclose a romantic relationship with a subordinate.
Bulcke will be succeeded by Vice Chairman Pablo Isla, effective October 1. Bulcke was earlier supposed to hand over the reins to Isla in April 2026.
"This is the right moment for me to step aside and accelerate the planned transition," Bulcke said.
The Financial Times had reported last week that Nestle investors had called for Bulcke to step down over the departure of a second chief executive in just over a year.
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