Nestlé has announced that its Chairman and company veteran Paul Bulcke will stand down in April 2026, with its Board proposing that Vice Chairman Pablo Isla takes his place.
Bulcke, a 70-year-old Belgian and Swiss national who has been Chairman of the food giant since April 2017, joined Nestlé in 1979 and served as the company’s CEO from 2008 to 2016.
Isla, a Spaniard who was CEO of Zara owner Inditex from 2005 to 2011 and Chairman and CEO of Inditex from 2011 to 2022, joined Nestlé’s board of directors in 2018.
Bulcke’s departure comes nine months after a management shake-up at Nestlé, with Mark Schneider replaced in the CEO role by Laurent Freixe following a period of lacklustre performance by the company.
Commenting on his impending departure, Bulcke said: “It has been a true privilege and a pleasure to be part of Nestlé’s journey over so many years, providing me with enriching experiences and responsibilities, ultimately as Chair of the Board of Directors.
“I am confident that with Pablo Isla, Laurent Freixe, as well as a strong Executive Team and Board of Directors, the company is in trusted hands and will continue its promising growth and value creation journey. It is the right moment for me to dedicate more time to my family and to embrace my many other interests.”
Isla added: “I thank the Board for its confidence in proposing me as Chairman and look forward to working with Laurent Freixe for Nestlé’s continued success. I am enthusiastic about taking on this new role, as I fully identify with Nestlé’s Nutrition, Health and Wellness strategy and its Creating Shared Value approach to business.”
