Nestlé has terminated the employment of CEO Laurent Freixe following an internal investigation revealing a relationship with a direct subordinate, a violation of the company’s Code of Conduct.The decision, announced by Nestlé President Paul bulcke, comes just one year after Freixe’s appointment to revitalize the global food and beverage giant.
The investigation,led by Bulcke and independent councilor Pablo Isla with external support,substantiated the inappropriate relationship. This follows a separate, publicly reported incident involving the CEO of High Tech astronomer, Andy Byron, and his Head of Human Resources at a Coldplay concert this summer. “It was a necessary decision. The values and governance of Nestlé are the solid foundations of our company,” Bulcke stated. “I thank Laurent for his years of service in Nestlé.”
Philipp Navratil, a 23-year Nestlé veteran, has been named the new CEO, effective immediately. Navratil most recently served as CEO of Nespresso,a role he assumed in 2024,and previously led the Nescafé and Starbucks division starting in 2020. He has been a member of the Nestlé board since January.
Freixe’s arrival last year followed the eight-year tenure of Mark Schneider, whose strategic decisions had faced criticism. Nestlé, with a portfolio of 2000 brands including Perugia in Italy, operates in a highly competitive global market and emphasizes the importance of upholding its ethical standards.