Nestlé chairman steps down 2 weeks after CEO’s abrupt firing

Core Insights - Nestlé's Chairman Paul Bulcke will resign on October 1, following the recent firing of CEO Laurent Freixe, indicating ongoing leadership instability at the company [1][2][3] Leadership Changes - Bulcke, who has been chairman since 2017, was initially set to leave in April 2024 but decided to step down earlier due to investor pressure regarding the company's performance [2] - Vice Chair Pablo Isla will take over as chairman after Bulcke's departure [2] - The company appointed Philipp Navratil, head of Nespresso, as the new CEO, marking the third CEO change in just over a year [3][4] Company Performance - Nestlé has faced sluggish sales in recent years attributed to internal missteps and reduced consumer spending due to inflation [5] - The company's shares have declined by 35% since the beginning of 2022, reflecting investor concerns over its performance and strategic direction [5]