Nestlé announced Tuesday that chairman Paul Bulcke will step down, just days after the company abruptly dismissed CEO Laurent Freixe for failing to disclose a romantic relationship with a direct subordinate.
Bulcke will be replaced by his deputy, Pablo Isla, effective October 1. The handover had originally been scheduled for April 2026, Reuters reported.
“This is the right moment for me to step aside and accelerate the planned transition,” Bulcke said. The Financial Times reported last week that investors had called for his resignation following the departure of a second Nestlé CEO in just over a year.
Earlier this month, the Swiss food giant announced Freixe’s firing after an internal investigation—conducted with outside legal counsel—found that he violated the company’s code of business conduct by concealing the relationship.
Freixe, a 40-year Nestlé veteran, had only taken over as CEO last September, after the company dismissed his predecessor, Mark Schneider. He has since been replaced by company executive Philippe Navertil.
Nestlé, which owns global consumer brands including KitKat, Häagen-Dazs and Nespresso, is once again facing a dramatic leadership shake-up at the top.