Lates News

According to the Financial Times, Nestle investors are calling for Chairman Paul Bulcke to resign due to the resignation of the company's second CEO in just over a year. They accuse Bulcke of causing instability and poor performance in the company during this period. Nestle dismissed CEO Laurent Freixe last week, whom Bulcke had appointed just one year ago, due to an undisclosed romantic relationship with a subordinate. Shareholders express concerns that Freixe's appointment and the way his behavior was investigated have heightened worries about Nestle's governance and raised doubts about Bulcke's decisions. "Bulcke has lost the respect and trust of investors," said a top 30 shareholder of Nestle, referring to the Chairman's scheduled departure date. "He should have resigned as Chairman instead of waiting until next April, this is about dignity and respect."