Nestle shares indicated slightly higher after chairman’s early departure

ZURICH: Nestle shares were indicated slightly higher on Wednesday after the Swiss food giant announced Chairman Paul Bulcke would hand over earlier than expected to former Inditex CEO Pablo Isla.

The company’s shares, which have lost nearly 18% in the last 12 months, were indicated to open nearly 1% higher on the Zurich exchange.

The announcement of Bulcke’s departure late on Tuesday accelerated the leadership changes at Nestle, the maker of KitKat chocolate bars and Nescafe instant coffee, which has seen an unprecedented period of management turmoil.