Nestle Ousts CEO Laurent Freixe for Code Violation, Names Navratil as Successor

Nestle announced that it had fired Chief Executive Officer Laurent Freixe with immediate effect following an internal investigation. The investigation revealed that Freixe failed to disclose a romantic relationship with a direct subordinate, in violation of the company's code of conduct.

Philippe Navratil, a veteran Nestle executive who joined the company in 2001, has been named CEO. Navratil most recently led the Nespresso division, having previously held senior positions in Central America and the company's coffee business.

Key Highlights

• Nestle dismisses CEO Laurent Freixe after code-of-conduct breach amid undisclosed romantic relationship.
• Veteran executive Philipp Navratil, previously leading Nespresso, named the new CEO with immediate effect.

"This was a necessary decision," said Chairman Paul Bulcke, emphasizing that the company's values and governance remain its most solid foundations. Nestle declined to provide additional information about the investigation's findings.

Freixe's career with Nestle

Freixe was chosen in August 2024 to succeed then-CEO Mark Schneider, and he officially took over the role the following month. He had been with Nestle since 1986, holding various leadership positions throughout the world. Prior to his current position, he was the head of Zone Latin America.

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Business Challenges

Nestle has recently undergone a number of personnel changes, including the leadership shake-up. Earlier this year, Executive Vice President Steve Presley announced his retirement after nearly 30 years. Chairman Bulcke has also confirmed that he will not seek re-election in 2026.

Nestle, based in Vevey, Switzerland, is dealing with rising commodity costs, particularly in coffee and cocoa. Despite these pressures, the company reported in July that price increases had partially offset rising input costs.