Nestlé shareholders are demanding that chairman Paul Bulcke resign immediately, following the scandal surrounding former CEO Laurent Freixe that has rocked the food group. They accuse him of mishandling the investigation into Freixe’s behaviour.
“A question of decency”
Bulcke plans to step down on 16 April 2026, but a group of shareholders wants to bring that step forward. They blame the Belgian for the recent turmoil at the food manufacturer, specifically because of the way the investigation was conducted into Freixe’s inappropriate relationship with a subordinate. Bulcke allegedly delayed intervening, while the affair was a “public secret” in the company. It is the second time in just over two years that Nestlé has had to fire its CEO.
“It is a matter of decency and respect that Bulcke resigns and does not wait until April next year“, a top-30 investor told the Financial Times. According to him, the chairman has lost the confidence of shareholders. Christopher Rossbach of long-term investor J Stern also called on Bulcke to step down, arguing that designated chairman Pablo Isla should take charge immediately: “Since CEO appointments have already gone wrong twice, I think it is time for forceful leadership at Nestlé.”
According to insiders, Isla (a former Inditex CEO), is already playing an active role in board decisions. Investors are frustrated by Nestlé’s continued weak performance on the stock market.
