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Nestlé proposes former Swiss Central Bank Chief, P&G Executive for Board in governance overhaulNestlé has nominated Fama Francisco and former Swiss National Bank chief Thomas Jordan to its board, as it expands committees and tightens governance ahead of its April AGM.By Bhupendra Paintola  February 18, 2026, 11:55:54 PM IST (Updated)2 Min ReadNestlé is set to elect new members to its Board of Directors at the company’s Annual General Meeting on April 16, 2026.

The Swiss food giant has proposed Ma. Fatima D. (Fama) Francisco, CEO of Procter & Gamble’s Global Baby, Feminine and Family Care business, and Thomas Jordan, former chairman of the Swiss National Bank, for election to its board at the AGM.

“Fama Francisco and Thomas Jordan bring outstanding leadership experience – Fama with her deep consumer goods knowledge that will sharpen our consumer insights, and Thomas with his extensive understanding of global economics that will reinforce our financial and strategic capabilities,” said Chair Pablo Isla.

Isla described the changes as a governance upgrade: an independent Chair, a Lead Independent Director, two Vice Chairs, a new CEO — and now, two heavyweight additions, one steeped in consumer brands, the other in macroeconomics and markets.

“With an independent Chair, a Lead Independent Director, two Vice Chairs and a dynamic new CEO, we have strengthened governance across multiple dimensions. With the changes announced today, we will further leverage the Board’s engagement in the company’s success, enrich oversight and strengthen decision-making. By continuing our practice of regularly refreshing the Board, we further broaden the diversity of perspectives and expertise represented.”

Francisco, who joined P&G in 1989 as its first female sales manager in the Philippines, brings decades of global consumer goods experience. Jordan led Switzerland’s central bank from 2012 to 2024 and represented the country at the IMF and BIS.

Nestlé is also reshaping its board committees. The Sustainability Committee will expand into a Science, Technology and Sustainability Committee. A new Audit and Finance Committee will take over finance oversight, while governance responsibilities will move to a combined Nomination and Corporate Governance Committee.

Each director will serve on two committees — signalling more meetings and closer oversight.

: Manish Tiwary on Nestle India's future — Digitisation, rural push and the 3 engines of growth

If approved, Nestlé’s board will comprise 13 independent directors. Its Indian subsidiary, Nestlé India, has also seen leadership changes. Suresh Narayanan retired as Chairman and Managing Director on July 31, 2025, with Manish Tiwary appointed Chairman effective August 1, 2025.Continue ReadingFirst Published: Feb 18, 2026 11:28 PM ISTTagsNestle