Nestle said Paul Bulcke wouldn't stand for re-election as chairman of the board of directors at next year's annual general meeting.
The Swiss conglomerate on Wednesday said that it decided to propose Pablo Isla, current vice chairman, as Bulcke's successor. The next annual general meeting is set for April 16, 2026.
Isla joined the board in 2018, having previously held the position of chairman and chief executive of Inditex, the food company said.
Paul Bulcke (born 1954), is a Belgian businessman who was appointed Chief executive officer (CEO) of Nestlé on 20 September 2007 and officially started in his new role in April 2008.
Early life He graduated as a commercial engineer at the Katholieke Universiteit Leuven and is an alumnus of the Vlerick Leuven Gent Management School. He also attended the program for Executive Development at the Swiss leading business school International Institute for Management Development (IMD) in Lausanne.
Career In 1979, aged 25, he started working for the Nestlé group and worked in different countries, including Switzerland, Spain, Belgium, Peru, Ecuador, Chile, Portugal, Czech Republic and Germany. Before his appointment as CEO of Nestlé, he was the Head of America (EVP of Americas divisions).
Bulcke has described Nestlé under his tenure as 'une force tranquille' (English: 'calm strength'). He is known for having a reserved, quiet personal manner.
Awards and honours On 25 May 2012, he received the VMA Award from the Vlerick Leuven Gent Management School for his "lifelong career, which has been distinguished by sustained integrity, exceptional management capacity and inspiring leadership".
Personal life He is married and has three children. He speaks six languages: Dutch, French, Spanish, Portuguese, German and English.
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