The announcement comes just months after Nestlé’s CEO and Chairman were ousted from their positions as the Swiss food & beverage giant seeks to regain momentum following falling sales
Former Nestlé Chairman and CEO Peter Brabeck-Letmathe will relinquish his Chairman Emeritus title after the group’s AGM in April 2026.
In a press release, Swiss food and beverage giant Nestlé said the decision was part of ongoing efforts to begin “a new chapter with new leadership”. The announcement of Brabeck-Letmathe’s departure comes three months after Nestlé sacked CEO Laurent Freixe over a breach of conduct and accepted the early resignation of Chairman Paul Bulcke following investor pressure regarding his leadership and decision-making.
“Peter is one of those individuals whose vision and commitment have left an unforgettable mark on our company. As Chairman Emeritus he continued to follow the company’s evolution with genuine interest, and I am certain Peter will remain a valued friend of Nestlé,” said Pablo Isla, Chairman, Nestlé.
Brabeck-Letmathe joined Nestlé in 1968 and held several senior positions, primarily in South America, before being appointed the group’s CEO in June 1997. He later became Chairman in April 2005 and held both roles concurrently before stepping down as CEO in April 2008 and Chairman in April 2017, when he assumed the title of Chairman Emeritus.
During Brabeck-Letmathe’s tenure as CEO, Nestlé took several significant strides to strengthen its coffee programme. In 1999, Brabeck-Letmathe oversaw the sale of Nestlé’s Hills Bros, MJB and Chase & Sanborn coffee brands to Sara Lee Corporation, a move the business took to refocus its US coffee strategy on a new premium line of Nescafé products.
In 2003, the Swiss group launched the Nespresso AAA Sustainable Quality Program in partnership with the Rainforest Alliance – an initiative which sees its coffee pod division work directly with coffee farmers to improve the productivity, quality, and sustainability of their farms.
In 2007, Brabeck-Letmathe inaugurated the Nestlé Professional Beverage Centre in Orbe, Switzerland – the company’s first R&D facility entirely dedicated to its out-of-home beverage business – before launching a Nespresso production and distribution hub in Avenches and a second R&D facility in Ohio, USA, the following year.
