Nestlé’s chairman and former CEO plans to step down from his position after “nearly 50 years of service,” the Swiss food giant announced Wednesday.
Paul Bulcke will not stand for re-election at the company’s next annual meeting in April of 2026. Nestlé’s board intends to nominate Vice Chairman Pablo Isla to succeed him at the meeting.
Bulcke joined the company in 1979 and served as its chief executive from 2008 to 2016. He became board chairman in the spring of 2017.
"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,” Bulcke said in the announcement. “I am confident that with Pablo Isla, [CEO] 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.”
Isla joined Nestlé’s board in 2018. He formerly served as CEO and then as chairman of Spanish fashion group Inditex.
"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,” Isla said.
