SHERIDAN, WYOMING – June 19, 2025 – A new chapter is on the horizon for Nestlé as the company announces a leadership succession plan that will see long-time Chairman Paul Bulcke step down in 2026, with Vice Chairman Pablo Isla proposed to take his place.
After nearly five decades with the company—including 14 years on the Executive Board, almost 9 years as CEO and 9 years as Chairman—Paul Bulcke has decided not to stand for re-election at Nestlé’s Annual General Meeting (AGM) on April 16, 2026. The Board’s proposal of Pablo Isla as his successor aims to ensure a smooth transition and continued momentum for the global food and beverage giant.
Honoring a Legacy of Vision and Stability
Paul Bulcke joined Nestlé in 1979 and rose through the ranks to become a defining figure in its modern history. He was appointed to the Executive Board in 2004, served as CEO from 2008 to 2016, and as Chairman since April 2017.
“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.’”
Pablo Isla Nominated as Next Chairman
The Board of Directors has decided to propose Pablo Isla, currently Nestlé’s Vice Chairman, for election as Chairman at the 2026 AGM. Isla joined the company’s Board in 2018 and has served as Vice Chairman and Lead Independent Director since 2024. His experience leading global brands and his current committee roles within Nestlé make him a natural choice.
“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.’”
Previously, Isla was CEO of Inditex from 2005 to 2011 and Chairman and CEO of Inditex from 2011 to 2022, a period marked by global expansion and operational excellence.
A Confident Path Forward Under New Leadership
The leadership transition is reinforced by the presence of Laurent Freixe, who became CEO of Nestlé on September 1, 2024, and joined the Board of Directors in April 2025. His collaboration with Pablo Isla is expected to further strengthen the company’s strategic direction and commitment to innovation.
“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.’”
What This Means for Consumers and Families
This transition signals Nestlé’s continued dedication to the principles that matter most to families and consumers: trust, continuity, and purpose. With a proven leadership team in place, the company remains focused on:
- Advancing its Nutrition, Health and Wellness strategy
- Delivering high-quality products that meet evolving needs
- Driving sustainable value creation for generations to come
With a legacy of integrity and a forward-looking leadership team, Nestlé is set to continue its mission of enriching lives around the globe.
Learn more at www.nestle.com