Confectionery manufacturer Nestlé has announced that Paul Bulcke will step down from the role of chairman and will be replaced by Pablo Isla, effective on October 1.

The reason behind the chairman’s departure was not disclosed by the business.

“I have full trust in Nestlé’s new leadership and firmly believe this great company is well positioned for the future,” said Bulcke.

“This is the right moment for me to step aside and accelerate the planned transition, allowing Pablo and Philipp to advance Nestlé’s strategy and guide the company with a fresh perspective. I wish the entire Nestlé family every success in the future.”

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Pablo Isla, vice chairman and chairman elect, said: “On behalf of the Board of Directors, I want to express our heartfelt gratitude to Paul for his leadership and unwavering dedication to Nestlé. Paul’s wisdom and commitment have shaped the company and laid the groundwork for our next chapter.”

Additionally, the company made other leadership changes, with Dick Boer named as lead independent director and vice chairman of the board of directors starting on October 1.

Meanwhile, Marie-Gabrielle Ineichen-Fleisch has been appointed as the next vice chair of the board of directors.

The new appointment and C-suite changes come after the FMCG brand’s CEO Laurent Freixe was dismissed from the role after breaching company code earlier this month.