VEVEY, Switzerland — Swiss consumer goods giant Nestlé has dismissed its Chief Executive Officer, Laurent Freixe, for a breach of the company’s Code of Business Conduct, according to a report from Anadolu Agency. The company confirmed that the decision was made after an internal investigation uncovered an undisclosed romantic relationship between Freixe and a direct subordinate.
The investigation was overseen by Nestlé Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with the assistance of independent outside counsel, as reported by Gulf News. The company stated that the relationship was in direct violation of its internal policies regarding workplace conduct. Freixe, who had been CEO for just over a year since taking the role in September 2024, was dismissed effective Monday.
In a statement, Nestlé’s chairman, Paul Bulcke, emphasized the company’s commitment to its corporate values. “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company,” Bulcke said, as cited by CBS News.
Following Freixe’s departure, the Board of Directors announced the immediate appointment of Philipp Navratil as the new CEO. Navratil, a longtime Nestlé veteran, previously served as the head of the Coffee Strategic Business Unit and as CEO of Nespresso. According to The Economic Times, Navratil joined the company in 2001 and has held various leadership roles across the globe, positioning him to continue the company’s strategic direction and accelerate efficiency efforts.
