Pablo Isla, a former president of Inditex and current advisor to the Cinven fund, has recently been appointed vice president of the Nestlé Group. Isla, who has been a director of the Swiss multinational for five years, will replace Henri de Castries as lead independent director and chairman of the Nomination Committee.
Isla was initially appointed as a director by the Nestlé shareholders meeting in April 2018 due to his extensive experience in the retail sector, particularly in e-commerce, as well as his expertise in supply chain, innovation, and governance. Despite stepping down as president of Inditex in March 2022, Isla will continue to serve on the Nestlé board of directors for another six years.
In addition to his role at Nestlé, Isla has taken on various other projects. He became a global advisor to the Cinven fund on January 1 and is the president of Amara Nzero, a renewable energy company in which the fund invests. Isla also serves as the president of the governing council of IE University, an advisor to private equity firm General Atlantic, and a member of several boards of trustees.
At Nestlé’s 157th shareholders meeting held last year, the company approved its latest accounts that included a proposed dividend increase from 3 Swiss francs per share to 3.5 Swiss francs per share and capital reduction. The dividend represents an increase of 6% from previous year’s dividend payment despite reporting a growth in net profit by 21% to 11.2 billion Swiss francs for financial year 2023 but experienced a decrease in revenue by 1%. However due to pandemic effect shares have been trading at their lowest levels since it started while experiencing an increase by 7.5% at end
