Nestle has dismissed its Chief Executive Officer (CEO), Laurent Freixe, after an internal investigation revealed he was involved in an undisclosed romantic relationship with a direct subordinate, in breach of the company’s Code of Business Conduct.
What Nestle said?
In a statement on Monday, the Swiss food and beverage giant confirmed that the Board of Directors ordered the probe, which was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from independent outside counsel.
“The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestlé’s Code of Business Conduct,” the company said. “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé,” Bulcke added.
Who do we know about Laurent Freixe?
Freixe became Nestlé’s Chief Executive Officer in September 2024 after a long career within the company. Born in Paris and educated at the Ecole de Hautes Etudes Commerciales du Nord in Lille, he also completed the IMD Program for Executive Development in Switzerland.
He joined Nestlé France in 1986, rising through roles in marketing and sales before becoming Head of the Nutrition Division in 1999. In 2003, he was appointed CEO of Nestlé Hungary, and by 2007, he was leading the Iberian Region.
In November 2008, he joined the Nestlé S.A. Executive Board as Executive Vice President for Zone Europe, later becoming CEO of Zone Americas in 2014. Following Nestlé’s geographic reorganisation in 2022, he was appointed CEO of Zone Latin America.
The Board has announced the immediate appointment of Philipp Navratil as the new CEO of Nestlé S.A.
Who is Philipp Navratil?
Philipp Navratil, a long-serving Nestlé executive, takes the helm at a critical moment. Navratil has more than two decades of experience with the group and is best known for leading the company’s flagship Nespresso brand. He was appointed to the Nestlé Executive Board earlier this year and previously held global strategy roles for Nescafé and Nestlé’s partnership with Starbucks.
Officials view Navratil as a stabilising force, with the expertise to guide the company through portfolio restructuring and external challenges, including new tariffs on Swiss exports under US President Donald Trump. His appointment is seen as a continuation of Nestlé’s efforts to strengthen its leadership team with insiders who understand the complexity of its global operations.
During his long tenure, Freixe was credited with driving innovation and performance across Nestlé’s value chain. He also launched the Nestlé Needs YOUth initiative in 2013, which provides employment opportunities for young people under 30. The programme now aims to help 10 million young people globally gain access to economic opportunities by 2030.
While Nestlé praised his leadership at the time of his CEO appointment, Freixe’s tenure at the top has ended abruptly, underscoring the company’s strict governance standards. His dismissal adds to the growing list of high-profile corporate leaders whose careers have been cut short by breaches of workplace conduct rules.
