Why Nestle investors are pushing for chairman's resignation
What's the story
Nestle shareholders are calling for the resignation of Chairman Paul Bulcke after the abrupt exit of Laurent Freixe, the second CEO to leave in just over a year, according to Financial Times. The demand comes amid concerns over corporate governance and Bulcke's decision-making processes at Nestle, especially in light of how investigations into Freixe's conduct were handled.
Information
Second CEO departure in a year
Freixe was abruptly dismissed by Nestle in early September for not disclosing a romantic relationship with a subordinate. His exit comes just a year after Mark Schneider's sudden departure.
Leadership uncertainty
Bulcke's future as chairman uncertain
The recent events have left Bulcke's future as chairman, a position he has held since 2017, in doubt. He had previously announced his intention to step down next year. However, given the current situation and rising shareholder discontent, it remains to be seen whether he will remain in his role or decide to resign amid mounting pressure for leadership changes at Nestle.