Paul Bulcke, President of Nestlé
President dismisses herself after surprising dismissal of the executive director, due to an unclogged relationship.
Laurent Freixe he was fired by the administration of Nestlé. The now former executive director was accused of violating the company’s code of conduct.
At stake is an internal investigation that concluded that Freixe had a love relationship with a direct subordinate – A relationship that had not revealed to the company.
Laurent Freixe had been in Nestlé for almost 40 years. He held several positions until, precisely a year ago, he was appointed Global CEO.
It was replaced by Philipp Navratil function, which until then led the company’s Nespresso division.
The resignation took place a few days ago, on September 1. Laurent Freixe left without compensation.
But shareholders did not like the way President Paul Bulcke dealt with the case: there is information that suggests that the president was try to defend and protect Freixe during the initial stages of the investigation, stresses the. The official version of Nestlé indicates that the former director denied have any relationship, until your resignation.
In addition, this case joins the departure from another director In August 2024, Mark Schneider. Nestlé will thus have three CEO in just over a year.
The criticism of investors are accumulated, doubts about how Nestlé’s leadership is being managed. Many questioned whether Bulcke should also leave or anticipate his departure.
And it will really leave: the chairman Nestlé’s Board of Directors will come out on October 1st (would leave in April next year).
It will be replaced by the current vice president of Nestlé’s Board of Directors, Pablo Isla.
“I fully trust Nestlé’s new direction and I firmly believe that this great company is well positioned for the future,” said President Paul Bulcke: “This is the right time to walk away and accelerate the planned transition, allowing Pablo and Philipp to advance Nestlé’s strategy and guide the company with a new perspective.”
Paul Bulcke is a figure of Nestlé in the 21st century: he was in the board of directors since 2008 and was CEO between 2008 and 2016.
