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RNS Number : 4673N  Nestle SA  18 June 2025

Nestlé Press Release

 

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Vevey/Switzerland, 18 June 2025

 

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[Ad hoc announcement pursuant to Art. 53 LR]

 

Nestlé announces succession for the Chair of the Board

 

Paul Bulcke, Chairman of the Board of Directors, will not stand for
re-election at the Annual General Meeting (AGM) of Nestlé S.A. on 16 April
2026.

 

After nearly 50 years of service, including 14 years on the Executive Board,
almost 9 years as CEO and 9 years as Chairman, Paul Bulcke has decided to
step down from his Board functions at the end of the company's next AGM.

 

The Board of Directors has decided to propose Pablo Isla, Nestlé's current
Vice Chairman, for election as Chairman at the AGM on 16 April 2026, allowing
time for a smooth transition and an orderly hand-over.

 

Paul Bulcke joined Nestlé in 1979 and was appointed to the Executive Board in
2004, responsible for Zone Americas. He was elected 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 1 September 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.

 

Nestlé Chairman Paul Bulcke: "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."

Nestlé Vice Chairman Pablo Isla: "I thank the Board for its confidence in
proposing me as Chairman and look forward to working with Laurent Freixe for
Nestlé's continued success. I am enthusiastic about taking on this new role,
as I fully identify with Nestlé's Nutrition, Health and Wellness strategy and
its Creating Shared Value approach to business."

 

Nestlé CEO Laurent Freixe: "I am honored and excited to continue leading and
accelerating Nestlé's performance and transformation. I thank Paul for the
trust he gave me over many years, and I look forward to working with Pablo,
the full Board, and the entire Nestlé team as well as all our stakeholders,
as we pursue our strategy."

 

 

Contacts:

 

Media

Christoph Meier

Tel.: +41 21 924 2200

mediarelations@nestle.com

 

Investors

David Hancock

Tel.: +41 21 924 3509

ir@nestle.com

 

 

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