Nestlé announced Monday it ousted Laurent Freixe as its chief executive for an “undisclosed romantic relationship” with a subordinate in violation of the company’s policies, naming Nespresso CEO Philipp Navratil as his successor effective immediately.
Laurent Freixe was ousted as Nestlé’s CEO on Monday. (Photo by FABRICE COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)
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Freixe was dismissed Monday following an investigation overseen by the company’s Chairman Paul Bulcke and Lead Independent Director Pablo Isla alongside outside counsel, which determined his romantic relationship with a subordinate violated Nestlé’s Code of Business Conduct.
“This was a necessary decision,” Bulcke said in a press release, adding, “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé.”
Freixe spent nearly four decades at the Swiss food and beverage company, including one year at the helm, after he was appointed CEO in late August 2024 following the resignation of his predecessor, Mark Schneider, who resigned amid struggling sales.
Navratil has worked at Nestlé for nearly 25 years, including stints leading the company’s coffee business in Honduras and Mexico before being appointed chief executive of Nespresso, Nestlé’s home-brew coffee company, in July 2024.
Navratil said he is “honored by the trust the Board has placed in me, and it is a privilege to take on the responsibility of leading Nestlé into the future.”
More to come.
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