Food giant Nestlé announced Monday it has dismissed Chief Executive Officer Laurent Freixe after an internal investigation found he engaged in an undisclosed romantic relationship with a direct subordinate, breaching the company’s Code of Business Conduct.
Breach of Conduct
The investigation began after employees raised concerns through Nestlé’s internal hotline.
An initial review found no evidence, and Freixe denied the claims, but further inquiries — led by board chairman Paul Bulcke, lead independent director Pablo Isla, and outside counsel — confirmed the relationship.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé,” Bulcke said in a statement.
Freixe, who spent 39 years at Nestlé, will receive no exit package.
New Leadership
Nestlé’s board named Philipp Navratil as the new CEO.
Reuters described him as “a rising star” at the company, tasked with stabilizing operations amid slowing sales, U.S. tariffs, and eroding investor confidence.
Investor Ingo Speich of Deka Investments called the leadership shake-up “historic,” noting:
“The loss of two CEOs and