To ensure a smooth transition, the Board has proposed Vice Chairman Pablo Isla as the next Chairman. His nomination will be put to shareholders for approval at the 2026 AGM.
FMCG major Nestlé S.A. on Wednesday (June 18) announced that Paul Bulcke, Chairman of the Board of Directors, will step down at the company’s Annual General Meeting (AGM) scheduled for April 16, 2026. Bulcke, who has been with the company for nearly five decades, will not seek re-election.
His tenure includes 14 years on the Executive Board, nearly 9 years as Chief Executive Officer, and another 9 years as Chairman. The company said the decision marks the culmination of a long and distinguished career at Nestlé.
To ensure a smooth transition, the Board has proposed Vice Chairman Pablo Isla as the next Chairman. His nomination will be put to shareholders for approval at the 2026 AGM.
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Paul Bulcke joined Nestlé in 1979 and was appointed to the Executive Board in 2004, responsible for Zone Americas. He was elected a member of the Board of Directors in 2008 and served as the company’s CEO from 2008 to 2016 and as Chairman of the Board since April 2017.
Pablo Isla, CEO of Inditex from 2005 to 2011 and Chairman and CEO of Inditex from 2011 to 2022, joined Nestlé’s Board of Directors in 2018. He has served as Vice Chairman and Lead Independent Director since 2024 and is a member of the company’s Nomination, Compensation, as well as its Chairman’s and Corporate Governance Committees.
Together with Laurent Freixe, who became CEO of Nestlé on September 1, 2024 and a member of the Board of Directors in April 2025, the new team is well equipped to continue Nestlé’s leadership in Nutrition, Health and Wellness and to foster the company’s values and principles.
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Nestlé Chairman Paul 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.”
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