Formula goes sour
OPINION: Media reports say global recalls tied to cereulide toxin contamination in milk-based nutrition brands could inflict combined financial losses exceeding $1 billion.
Current vice chairman Pablo Isla has been tapped by the board to take over from Bulcke, who steps down after almost 50 years of service the company and nine years in the top role.
Bulcke joined Nestle in 1979 and was appointed to the executive board in 2004, responsible for Zone Americas. He was elected member of the board of directors in 2008 and served as the company's CEO from 2008 to 2016 and as chairman of the board since April 2017.
Bulcke says it’s been a true privilege and a pleasure to be part of Nestle's journey over so many years.
“Providing me with enriching experiences and responsibilities, ultimately as chair of the board of directors. I am confident that with Pablo Isla, Laurent Freixe (CEO) as well as a strong executive team and board of directors, the company is in trusted hands and will continue its promising growth and value creation journey.
“It is the right moment for me to dedicate more time to my family and to embrace my many other interests."
Isla thanked the board for its confidence in proposing him as chairman and looks forward to working with Laurent Freixe for Nestlé's continued success.
“I am enthusiastic about taking on this new role, as I fully identify with Nestle's Nutrition, Health and Wellness strategy and its Creating Shared Value approach to business."
Nestle is one the world’s largest food companies – the business has around 277,000 employees, more than 2,000 brands and a presence in 185 countries.
