0657 GMT - News that Nestle Chairman Paul Bulcke will step down next year and be replaced by Pablo Isla, former CEO of Zara owner Inditex, comes as no surprise, Vontobel's Jean-Philippe Bertschy says in a research note. The change marks the end of a significant chapter for the Swiss food giant as Bulcke has been with the company for nearly five decades, including nine years as CEO and another nine years as chairman, the analyst says. "Paul [Bulcke] turned 70 last year, and there were rumors in the market that either board member Pablo Isla or Luca Maestri could take over at the 2027 annual general meeting at the latest," Bertschy says. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
June 19, 2025 02:57 ET (06:57 GMT)
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