董事长提前卸任，雀巢又到“十字路口”

Core Viewpoint - Nestlé is undergoing significant leadership changes with the early resignation of Paul Bulcke and the appointment of Pablo Isla as the new Chairman, alongside Philipp Navratil as CEO, marking a pivotal moment for the 159-year-old company [1][3][5]. Leadership Transition - Paul Bulcke, who has been with Nestlé for 46 years, will step down earlier than expected, with Pablo Isla taking over as Chairman on October 1 [1][3]. - Bulcke's tenure included roles as CEO from 2008 to 2016 and Chairman from 2017 to 2025, during which he led several strategic initiatives [3]. - Pablo Isla, previously CEO and Chairman of Inditex, is recognized for increasing the company's market value sixfold during his 17 years there [3][4]. Strategic Focus - The transition comes as Nestlé emphasizes its "Back to Basics" strategy, which aims to focus on high-potential products like Nestlé coffee concentrates and continue investments in nutrition [6]. - Isla's partnership with Navratil is expected to drive organic growth and enhance the efficiency of Nestlé's product portfolio [7]. Market Performance - In the first half of the year, Nestlé's sales in Greater China amounted to 2.47 billion Swiss francs, reflecting a year-on-year decline of 6.4%, contrasting with more stable performances in other regions [7][8]. - The leadership changes may influence strategic continuity in the Greater China market, with potential adjustments to align with local market dynamics [8]. Future Outlook - As of October 1, with Navratil's official appointment, the direction of Nestlé in the Chinese market will be closely monitored for strategic developments [9].