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

Nestlé said Tuesday Chairman Paul Bulcke has decided to step down, days after the Swiss food giant abruptly dismissed its CEO Laurent Freixe for failing to disclose a romantic relationship with a subordinate.

Bulcke will be succeeded by Vice Chairman Pablo Isla, effective Oct. 1. Bulcke was earlier supposed to hand over the reins to Isla in April 2026.

“This is the right moment for me to step aside and accelerate the planned transition,” Bulcke said.

Chairman Paul Bulcke had planned to step down in April 2026. AFP via Getty Images

The Financial Times had reported last week that Nestle investors had called for Bulcke to step down over the departure of a second chief executive in just over a year.

Freixe, 63, was sacked last week without severance pay after Nestlé confirmed he had engaged in an undisclosed affair with a direct report. The relationship was reported to be an “open secret” within the company, according to Financial Times.

CEO Laurent Freixe was fired earlier this month for failing to disclose a romantic relationship with a subordinate. AFP via Getty Images

A Swiss blog reported earlier this month that Freixe was canned after a senior executive said to be his mistress allegedly caught him in a Zurich hotel with the subordinate — and then filed a complaint through the company’s anonymous hotline that triggered an internal probe.