"Investors of Nestle demand chairman resign due to high-level executive turnover."

According to the Financial Times, Nestl investors are calling for chairman Paul Bulcke to resign, citing the departure of the second CEO in just over a year and blaming Bulcke for the company's instability and poor performance during that time. Nestl fired CEO Laurent Freixe last week, who was appointed by Bulcke just a year ago, for allegedly engaging in an undisclosed romantic relationship with a subordinate. Shareholders claim that Freixe's appointment and the way his behavior was investigated heightened their concerns about Nestl's governance and led them to question Bulcke's decisions. "Resigning as chairman before next April, is a matter of decency and respect," a former top 30 shareholder of Nestl said regarding the scheduled departure date for the chairman, "Bulcke has lost the respect and trust of investors."