Published by Global Banking & Finance Review®
Posted on February 18, 2026
2 min readLast updated: April 3, 2026
Add as preferred source on GoogleNestle will nominate ex-SNB chief Thomas Jordan and P&G’s Fama Francisco to its board at the April 16 AGM. It will dissolve the chair’s governance committee, create new audit/finance and nomination/governance bodies, and increase meeting frequency.
ZURICH, Feb 18 (Reuters) - Swiss consumer goods giant Nestle said on Wednesday it has proposed former Swiss National Bank Chairman Thomas Jordan to serve on its board of directors and that it plans to overhaul the company's governance practices.
Nestle has been roiled by managerial turmoil over the past year-and-a-half with two CEOs departing and a chairman stepping down early amid serious setbacks that have hit its share price and raised questions about its corporate governance.
Nestle said Jordan would be put forward alongside Fatima Francisco, chief executive officer of Procter & Gamble's Global Baby, Feminine and Family Care sector for election to the board of directors at its annual general meeting on April 16.
The firm said it had reviewed its practices and committee structure and would make changes to take effect at the AGM.
Those changes include introducing additional meetings in order to increase board engagement, and revising committee structures and responsibilities, Nestle said.
The chair's and corporate governance committee will be dissolved, with its finance duties assumed by a new audit and finance committee and its corporate governance brief by a nomination and corporate governance committee, it added.
(Writing by Dave Graham, editing by Maria Martinez)
A board of directors is a group elected by shareholders to oversee a company’s strategy, risk, and performance. It appoints and evaluates senior management, approves major policies and budgets, and ensures the business is run in shareholders’ and stakeholders’ long-term interests.
Corporate governance is the system of rules, practices, and processes that direct and control a company. It defines how boards, management, and shareholders interact to ensure accountability, fair decision-making, risk oversight, and long‑term value creation for the organization.
The Swiss National Bank is Switzerland’s central bank. It conducts monetary policy to ensure price stability, manages currency and foreign reserves, supports a stable financial system, and provides banking services to the Confederation and other institutions within its mandate.
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