The world's largest food & beverage company, Nestlé, has dismissed its Chief Executive Officer, Laurent Freixe, after an internal probe confirmed he was involved in an undisclosed romantic relationship with a direct subordinate, violating the company’s code of business conduct.
The investigation, overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla with support from external counsel, was launched following a whistleblower report submitted through Nestlé’s compliance channel. External advisers concluded that the relationship created a clear conflict of interest.
Bulcke said the board had no choice but to act: “The decision to dismiss Mr Freixe was necessary. Nestlé’s values and governance remain the strong foundations of our company.”
Freixe, who began his Nestlé career in 1986 and became CEO in September 2024, will leave without an exit package.
Philipp Navratil, a 24-year Nestlé veteran who previously led Nespresso, has been appointed as Freixe’s successor. Navratil has promised to “drive efficiency and maintain focus on core businesses such as coffee, pet care, and essential foods.”
Despite the leadership shake-up, Nestlé’s board insisted that its growth strategy remain on track. Shares in the Swiss multinational rose slightly by 0.13% to 75.49 Swiss francs after the announcement.
This marks the second leadership change in less than a year for Nestlé and reinforces the group’s stance on corporate accountability, transparency, and governance at the highest level.
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