By Linda Hall • Updated: 23 Apr 2024 • 18:53
PABLO ISLA: Appointed Nestle vice-chairman Photo credit: CC/CarlosVentura1
Nestle shareholders recently approved Spanish businessman Pablo Isla as the company’s new vice-chairman.
The appointment makes Isla the second most-important member of the Nestle board after chairman Paul Buicke.
Isla, Inditex chairman until 2022 and financial adviser to the Cinven private equity fund, was elected to the board of Nestle, the world’s largest food company, in 2022 on the strength of his “extensive experience” in the retail sector.
He takes over from Henri de Castries who occupied the vice-chairman post for the last 12 years but did not seek re-election owing to the company’s regulations.
Nestle’s 2023 results presented in late February revealed a 21 per cent increase in net profits of 11.2 billion Swiss francs (€11.75 billion).
Although Nestle’s prices increased by 7.5 per cent in 2023, revenues dipped by 1.5 per cent to 93 billion Swiss francs (€97.5 billion) as sales failed to pick up after the pandemic.
Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.
Your email address will not be published. Required fields are marked *
Comment for robots Please empty this comment field to prove you're human.
Website
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.