Finance
Nestle proposes former SNB chief Thomas Jordan for board of directors
Published by Global Banking & Finance Review®
Posted on February 18, 2026
2 min readLast updated: February 18, 2026
Quick Summary
Nestle 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.
Nestle Nominates Ex-SNB Chairman Thomas Jordan to Its Board of Directors
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.
Board Nominations and Governance Overhaul
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.
Proposed Directors: Thomas Jordan and Fama Francisco
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.
Changes Effective at the AGM
The firm said it had reviewed its practices and committee structure and would make changes to take effect at the AGM.
Increased Meeting Frequency
Those changes include introducing additional meetings in order to increase board engagement, and revising committee structures and responsibilities, Nestle said.
Chair’s & Corporate Governance Committee Dissolved
Nomination and Corporate Governance Committee
Audit and Finance Committee
Committee Restructuring
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)
Key Takeaways
- •Nestlé will propose former SNB chairman Thomas Jordan and P&G executive Fama Francisco for election to its board at the April 16, 2026 AGM.
- •The Chair’s & Corporate Governance Committee will be dissolved, with duties split between a new Audit & Finance Committee and a Nomination & Corporate Governance Committee.
- •The Sustainability Committee will be expanded and renamed the Science, Technology & Sustainability Committee.
- •Board meeting frequency will increase to boost director engagement and oversight.
- •The governance overhaul aims to strengthen accountability following recent leadership turbulence.
Frequently Asked Questions about Nestle proposes former SNB chief Thomas Jordan for board of directors
1What is a board of directors?
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.
2What is corporate governance?
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.
3What is the Swiss National Bank (SNB)?
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.
