Nestlé chairman Paul Bulcke steps down after CEO's scandal over romance with subordinate

Group 1 - Chairman Paul Bulcke has decided to step down, effective October 1, following the dismissal of CEO Laurent Freixe for failing to disclose a romantic relationship with a subordinate [1][4][7] - Bulcke was originally scheduled to transition leadership to Vice Chairman Pablo Isla in April 2026, but has accelerated this process [1][5] - Investors had reportedly called for Bulcke's resignation due to the departure of a second CEO in just over a year [2] Group 2 - CEO Laurent Freixe, aged 63, was terminated without severance pay after an internal investigation confirmed his undisclosed affair with a direct report [4][6] - The relationship was described as an "open secret" within the company, leading to significant internal scrutiny [4]