Pablo Isla, who took over as chairman of Nestlé in October, has announced significant changes to the company's board of directors following the dismissal of Laurent Freixe, the former CEO, who was let go for concealing a personal relationship with a subordinate. Nestlé aims to reform its governance structure to ensure transparency and uphold a robust corporate governance model, which Isla emphasized is crucial for the company’s long-term success.

As part of this reform, Nestlé has appointed two new board members: Fatima Francisco, the CEO of Procter & Gamble's Baby, Feminine & Family Care segment, and Thomas Jordan, the former president of the Swiss National Bank. The inclusion of these experienced professionals is expected to strengthen the governance of the Swiss multinational and provide diverse perspectives that are essential in navigating the complexities of the global food industry.

This overhaul of the board reflects Nestlé's commitment to maintaining high ethical standards and corporate responsibility, especially in light of recent controversies. The changes come during a time when corporate governance is under increased scrutiny, making it critical for companies to foster environments that promote integrity and accountability to build and maintain stakeholder trust.