Nestlé has confirmed a change in board leadership, with Paul Bulcke stepping down as Chairman after the company’s Annual General Meeting on 16 April 2026.
The announcement marks the final chapter in Bulcke’s 47-year career with Nestlé. He joined the company in 1979, became a member of the Executive Board in 2004, served as CEO from 2008 to 2016, and has chaired the Board since April 2017.
To ensure continuity, the Board of Directors will propose Vice Chairman Pablo Isla as Bulcke’s successor.
Isla joined the Nestlé Board in 2018. He became Vice Chairman and Lead Independent Director in 2024 and currently serves on four of the company’s core governance committees: Nomination, Compensation, Chairman’s, and Corporate Governance.
The proposed handover will be put to shareholders at the 2026 AGM, as required under Nestlé’s annual election process.
Before joining Nestlé, Isla led Inditex, the global fashion group, from 2005 to 2022, including 11 years as Chairman and CEO. His appointment would bring board-level and operational leadership experience to the new role.
The board succession follows last year’s appointment of Laurent Freixe as CEO. Freixe assumed the role in September 2024 and was elected to the Board of Directors in April 2025. He has held multiple senior positions across Nestlé’s global operations.
Together, Isla and Freixe are expected to lead Nestlé through its next phase, maintaining the company’s focus on Nutrition, Health and Wellness.
Nestlé said the early announcement provides time for a structured and orderly transition. No further board or executive changes have been announced.
The Nestlé executive board succession will be finalized at the AGM on 16 April 2026.
