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VEVEY, SWITZERLAND - Nestlé S.A. (SIX:NESN) announced Wednesday that Chairman Paul Bulcke will not seek re-election at the company’s Annual General Meeting scheduled for April 16, 2026.
The Swiss food and beverage giant’s board has proposed current Vice Chairman Pablo Isla as Bulcke’s successor, according to a company press release.
Bulcke, who has served Nestlé for nearly 50 years, joined the company in 1979 and held various leadership positions including CEO from 2008 to 2016 before becoming Chairman in April 2017.
Isla, who joined Nestlé’s board in 2018, previously served as CEO of Inditex (BME:ITX) from 2005 to 2011 and as Chairman and CEO of the Spanish clothing retailer from 2011 to 2022. He has been Nestlé’s Vice Chairman and Lead Independent Director since 2024.
The leadership transition comes after Laurent Freixe assumed the role of CEO in September 2024 and joined the board in April 2025.
"It has been a true privilege and a pleasure to be part of Nestlé’s journey over so many years," Bulcke said in the statement, adding that he plans to dedicate more time to his family and other interests.
Isla expressed enthusiasm about his proposed new role, stating he "fully identifies with Nestlé’s Nutrition, Health and Wellness strategy."
The announcement provides a 10-month transition period before the leadership change takes effect at next year’s shareholder meeting.
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