Nestlé Chairman Paul Bulcke To Step Down After Nearly A Decade, Following CEO's Ouster

Benzinga

Nestlé said Chairman Paul Bulcke will step down after nearly a decade on the board following the recent ouster of CEO Laurent Freixe, according to The Wall Street Journal. Pablo Isla, currently vice chairman, will replace Paul Bulcke as chairman effective Oct. 1, with Bulcke departing before his mandate ends. Bulcke’s resignation follows Nestlé’s recent dismissal of CEO Laurent Freixe over a code-of-conduct breach involving a romantic relationship with a subordinate. Freixe’s dismissal marked another leadership shake-up at Nestlé, which had appointed him in 2024 to replace CEO Mark Schneider amid sluggish sales.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Nestle said Chairman Paul Baalke will step down after nearly a decade on the board

00:06following the recent ouster of CEO Laurent Frixie, according to the Wall Street Journal.

00:10Pablo Isla, currently vice chairman, will replace Paul Baalke as chairman effective October 1st,

00:15with Baalke departing before his mandate ends.

00:17Baalke's resignation follows Nestle's recent dismissal of CEO Laurent Frixie

00:21over a code of conduct breach of a romantic relationship to the subordinate.

00:25Frixie's dismissal marked another leadership shakeup at Nestle,

00:27which has appointed him in 2024 to replace CEO Mark Schneider amid sluggish sales.

00:32For all things money, visit Benzinga.com.

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