Nestle says chairman Paul Bulcke to step down / Photo: Martin LELIEVRE - AFP/File
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Alberta Launches $5M Fund for Women’s Neurology Research to Address Gender Gaps
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
Energy Costs Push OECD Inflation Up to 4.5%
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
China's Singles' Day Exposes Persistent Consumer Caution
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
-
Early Black Friday Walking Pad Deals: Urevo and WalkingPad Discounts
-
Nvidia faces scrutiny over alleged Chinese intelligence link to Jensen Huang
-
Radical Numerics develops offline AI tool to detect engineered pathogens
-
Chennai orders inquiry after dogs die at shelter; two veterinarians face action
-
Kiara Advani Reveals Sidharth Malhotra’s Reaction to Toxic Backlash
-
Startup turns Chennai’s history and culture into an interactive world
-
Four firms compete to design Chennai’s model mobility corridors
-
UFC Hall of Famer Michael Bisping Backs Xycota Biosciences' Low-Dose Psilocybin Research on PTSD and Concussion
-
A Significant Day For Elektros: High-Level Meeting Today To Review Company's Patented EV Charging Technology
-
SMX Bridges AI and Industrial Material Science With New Intelligence Platform
-
PodcastOne (NASDAQ:PODC) Reports Record 1H & Q2 Fiscal 2027 Financial Results; 1H Fiscal 2027 Revenue of $31.5M and Adjusted EBITDA* of $2.9M
-
Ondas Posts Record Q3 2026 Revenue of $167.5 Million on Strong Bookings and Backlog Growth; Raises Full-Year Outlook
-
Medical Care Technologies Inc. (OTCID:MDCE) Delivers 270% Net Income Surge in Q3 as Profitability Accelerates
-
The Silent Classroom: 63% of Workers Who Use AI Say It's Teaching Them Skills Outside of Formal Training
-
Bipartisan SILVER Act Gains Strong Momentum in Congress as Lawmakers Eye National Defense Bill
-
Elektros Enters Important Patent Discussions with Influential Prospective Acquirer at Today's 11 A.M. Meeting
-
First Breach Inc. Announces Third Quarter 2026 Earnings Conference Call
NYSE - LSE
Nestle says chairman Paul Bulcke to step down
Nestle on Tuesday announced that its longtime chairman Paul Bulcke had decided to step down, just weeks after the Swiss food giant suddenly fired its chief executive over an office relationship.
Nestle said in a statement that vice-chairman "Pablo Isla will become chairman effective October 1, following Paul Bulcke's decision to step down from the board earlier than planned."
The announcement came just over two weeks after the multinational behind Nespresso coffee capsules and KitKat chocolate bars said it had dismissed Laurent Freixe as chief executive with immediate effect over an "undisclosed romantic relationship with a direct subordinate".
In a swift move, Nespresso CEO Philipp Navratil was appointed to take over by his fellow board members.
According to media report, Nestle investors had since been pushing for Bulcke -- a Belgian national who served as Nestle CEO for nearly a decade before becoming chairman in 2017, to step down.
The Financial Times reported that investors blamed him for a chaotic period at the company that culminated with Freixe's ouster.
Bulcke, who has been scheduled to remain in his position until next April, said in Tuesday's statement that he had "full trust in Nestle's new leadership and firmly believe this great company is well positioned for the future".
"This is the right moment for me to step aside and accelerate the planned transition, allowing Pablo and Philipp to advance Nestle's strategy and guide the company with a fresh perspective," he said.
Isla meanwhile hailed Bulcke "for his leadership and unwavering dedication to Nestle".
"Paul's wisdom and commitment have shaped the company and laid the groundwork for our next chapter," he said, adding that Bulcke had been named Honorary Chairman of the company.
P.M.Smith--AMWN