Nestlé Chairman Paul Bulcke steps down early

SWITZERLAND – Nestlé Chairman Paul Bulcke will step down from his role earlier than planned following the recent dismissal of CEO Laurent Freixe.  

The Swiss food giant announced on 16 September that Bulcke will relinquish the chairmanship on 1 October, with lead independent director Pablo Isla stepping in ahead of the original April 2026 transition date. 

Bulcke, who has worked at Nestlé for nearly five decades, served nine years as CEO before becoming chairman in 2017. His early departure comes just weeks after Freixe’s sudden exit over an undisclosed relationship with an employee.  

Philipp Navratil, head of Nestlé’s Nespresso division, has been appointed as Freixe’s immediate successor. 

In a statement, Bulcke said: “This is the right moment for me to step aside and accelerate the planned transition, allowing Pablo and Philipp to advance Nestlé’s strategy and guide the company with a fresh perspective. I have full trust in Nestlé’s new leadership and firmly believe this great company is well positioned for the future.” 

Bulcke’s accelerated exit follows investor pressure for swift leadership changes after two successive CEO departures and criticism of the board’s handling of Freixe’s investigation.  

Shareholders cited concerns about corporate governance and decision-making processes during Bulcke’s tenure, according to reports in the Financial Times. 

In yesterday’s statement, Isla commented: “On behalf of the board of directors, I want to express our heartfelt gratitude to Paul for his leadership and unwavering dedication to Nestlé. Paul’s wisdom and commitment have shaped the company and laid the groundwork for our next chapter.” 

The company also confirmed that Dick Boer will become lead independent director and vice chairman of the board effective 1 October, while Marie-Gabrielle Ineichen-Fleisch will take up another vice chair seat. 

Bulcke was Nestlé CEO until 2016, when Mark Schneider succeeded him. He became chairman in April 2017. His early resignation marks one of the most significant leadership shifts at Nestlé in recent years as the company seeks stability and renewed focus. 

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