Nestle dismissed CEO Laurent Freixe for breaching conduct rules, naming Philipp Navratil as his replacement.
Nestle has dismissed its Chief Executive Officer, Laurent Freixe, after an internal investigation found he breached the company’s code of conduct, the food giant said on Monday. Philipp Navratil, a long-serving executive, has been named as his successor.
The probe, led by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, examined Freixe’s undisclosed romantic relationship with a direct subordinate. “This was a necessary decision,” Bulcke stated. “Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”
Freixe became CEO in September 2024, following the ouster of Mark Schneider. His abrupt exit marks the second leadership shake-up in less than a year for the Swiss-based multinational.
Navratil, who joined Nestle in 2001 as an auditor, has held several senior roles across Latin America and the company’s global coffee business. He most recently served at Nespresso and joined the executive board in January 2025.