Nestlé Dismisses CEO Laurent Freixe, Names Philipp Navratil Successor

Nestlé has dismissed CEO Laurent Freixe following an internal investigation that revealed he engaged in an undisclosed romantic relationship with a direct subordinate, violating the company's code of conduct. The probe was overseen by Chairman Paul Bulcke and lead independent director Pablo Isla, with external legal support, highlighting Nestlé's commitment to governance and ethical standards. Freixe, who served as CEO for just one year, did not receive an exit package, and his tenure coincided with a 17% decline in Nestlé's share price. Philipp Navratil, former head of Nespresso and a long-time Nestlé executive since 2001, has been appointed as the new CEO, signaling a generational shift and continuity in leadership amid challenging market conditions. Analysts view Navratil's experience leading the premium coffee brand as valuable for navigating growth and cost pressures, as Nestlé faces rising input costs and global trade issues. Chairman Bulcke emphasized that the company's strategy remains unchanged and expressed confidence in Navratil's ability to advance growth and efficiency efforts.