Nestlé President Paul Bulcke steps down in early October
Nestlé Announces Premature Departure of Chairman Paul Bulcke and Succession Plan
In a significant shakeup at Nestlé, the food giant announced on Tuesday evening the premature departure of its Chairman, Paul Bulcke, and the accelerated transition of Pablo Isla as the new President.
Bulcke, who has been in his role for 14 years, has stepped down under pressure. His resignation comes after the forced departure of Nestlé CEO Laurent Freixe in early September, following a hidden affair with a direct subordinate.
The incoming President, Pablo Isla, will now work alongside the new CEO, Philipp Navratil. Isla, who is currently Nestlé's Vice President, will take over the presidency on October 1.
Navratil, a Swiss-Austrian manager, became the CEO of Nestlé in September 2025. The transition to Isla as president and the arrival of Navratil as CEO marks a period of change in Nestlé's management.
The transition was earlier than expected, as Isla was originally scheduled to be elected as the new president at the annual general meeting on April 16, 2026. The annual general meeting will no longer occur as planned due to his earlier transition.
In his media release, Bulcke stated that Isla and Navratil can now drive the company's strategy forward with fresh perspectives. The upcoming leadership team is expected to guide Nestlé through its strategic initiatives.
The departure of Bulcke and the transition to Isla follows a period of pressure and change in Nestlé's management. Increasingly, investors had been calling for Bulcke to step down earlier than planned. The departure of Freixe led to shareholder criticism of Bulcke for his lack of judgment in personnel decisions.
This is the second departure of a Nestlé CEO within a year. The departure of both Bulcke and Freixe within a year has been a significant event in Nestlé's recent news today.
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