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VEVEY, Switzerland - Nestlé S.A. announced Tuesday that Chairman Paul Bulcke will step down from his position earlier than planned, with current Vice Chairman Pablo Isla set to take over effective October 1.
The Swiss food and beverage giant’s Board of Directors has named Bulcke as Honorary Chairman in recognition of his service to the company. Bulcke stated that he believes this is "the right moment" to step aside and accelerate the planned transition.
"I have full trust in Nestlé’s new leadership and firmly believe this great company is well positioned for the future," Bulcke said, according to the company’s press release.
Isla, who has been serving as Vice Chairman and Chairman Elect, expressed gratitude for Bulcke’s leadership and dedication to Nestlé, noting that his "wisdom and commitment have shaped the company and laid the groundwork for our next chapter."
As part of the leadership reorganization, Dick Boer will assume the roles of Lead Independent Director and Vice Chairman of the Board beginning October 1. Additionally, Marie-Gabrielle Ineichen-Fleisch has been appointed Vice Chair of the Board of Directors.
The announcement comes as Nestlé continues to navigate challenges in the global consumer goods market. The company did not specify reasons for accelerating the leadership transition.
Nestlé, known for brands including Nescafé, KitKat, and Purina, is one of the world’s largest food and beverage companies.
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