Investors say

Provided by John Reville, Oliver Hirt and Richa Naidu

Zurich/London (Reuters) -Nestle has recently been announced that Chairman Paul Bulcke will resign after the emerging investor’s anxiety due to the stock price of Food Group, the term of previous CEO Mark Schneider’s term and concern that its company management model was obsolete.

The 70 -year -old Bulcke support has been abolished for doubt about Nestle recovery after pandemic. The number of sales has been marked as the world’s largest food manufacturer, increased prices to compensate for the rising raw material costs, said four Nestle investors.

There was also dissatisfaction with Bulcke’s faithfulness to Schneider in that difficult period, as well as Nestle’s practice to make former director general. Finally, Schneider was removed in August last year and was replaced by Nestle Veteran Laurent Freixe.

Nescafe’s Instant Coffee and Kitkat Chocolate Bar Made of June 18th. Said that Bulcke, CEO from 2008 to 2016, 2026. April Will appear as chairman and will be replaced by Vice -President Pablo Isla, former chairman and CEO of the Spanish fashion company.

“Nestle is not in crisis mode, but it’s a good time for change,” said Ingo Speic, Sustainability and Corporate Manager Deka Investment -30 Best Nestle Investor, who April 16. April 16 Voted against Bulcke.

“We are big supporters of independent presidents, but for more than a decade, it was no longer independent in Bulcke,” Speyich added. “Nestle in the past was too much like a closed shop.”

Bulcke could not comment on this story.

His withdrawal will mark the end of a career for almost 50 years, where he rose from marketing trainee to the top.

In response to Reuters’ request to comment on this story, Nestle spokesman Christopher Meier said Bulcke had chosen not to seek re -election at the time Freixe was well established and the company’s strategic direction was clear and strong.

“This time ensures a smooth transition, providing a lot of time and space for the new leadership team to settle,” said Meier, noting that the company in June. Reviewed their inheritance plans.

However, Bulcke’s withdrawal time, announced shortly after being re -elected for another year and a year before his compulsory retirement age, was unusual, says analysts and investors.

Bulcke, the chairman from 2017, had to retire in 2027. According to Nestle rules.

Several best investors told Reuters that Reuters have been dissatisfied with Bulcke for many years, some have sought to depart in private or shareholders’ meetings.

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