Nestle shares slipped on Wednesday after the Swiss food giant announced the earlier-than-expected departure of its chairman, just weeks after the sudden ouster of its chief executive over an office relationship.

The multinational behind Nespresso coffee capsules and KitKat chocolate bars announced late Tuesday that its longtime chairman Paul Bulcke would step down “earlier than planned” on October 1.

Bulcke, who had been scheduled to remain in his position until next April, is being replaced by vice-chairman Pablo Isla, the company said.

Nestle shares were down 0.51 percent to 71.52 Swiss francs ($90.80) in early trading after opening slightly higher, weighing on the Swiss stock exchange’s main SMI index, which fell 0.31 percent.

The announcement of Bulcke’s early departure came only t

See Full Page