 "Nestle dismisses CEO Laurent Freixe over code breach, appoints Navratil")
Nestle announced on Monday that it had dismissed Chief Executive Officer Laurent Freixe with immediate effect, following an internal investigation. The inquiry revealed that Freixe failed to disclose a romantic relationship with a direct subordinate, a breach of the company’s code of conduct.
Philipp Navratil, a veteran Nestle executive who joined the group in 2001, has been appointed as the new CEO. Navratil most recently served as head of the Nespresso division, after holding senior roles across Central America and within the company’s coffee business.
“This was a necessary decision,” said Chairman Paul Bulcke, stressing that the company’s values and governance remain its strongest foundations. Nestle did not release further details about the findings of the probe.
Freixe’s career at Nestle
In August 2024, Freixe was chosen to succeed then CEO Mark Schneider and officially assumed the role the following month. He had been with Nestle since 1986, serving in various leadership positions around the world. Before taking on the top job, he headed Zone Latin America.
Business challenges
The leadership shake-up adds to a series of recent personnel changes at Nestle. Earlier this year, Executive Vice President Steve Presley announced his retirement after nearly 30 years. Chairman Bulcke has also confirmed he will not seek re-election in 2026.
Headquartered in Vevey, Switzerland, Nestle is grappling with higher commodity costs, particularly in coffee and cocoa. Despite these pressures, the company reported in July that price increases had helped offset rising input expenses.