Laurent Freixe, the CEO of Nestlé, has been dismissed from his position due to an undisclosed romantic relationship with a subordinate, which violated the company’s business conduct code. Philipp Navratil, a seasoned employee, has been named as the new CEO. The board of directors, under the guidance of Chairman Paul Bulcke and lead independent director Pablo Isla, along with external legal counsel, oversaw the investigation. Freixe, who will not receive an exit package, commenced his career at Nestlé in 1986. He later held executive positions in Hungary and the Iberian region before becoming CEO of Zone Latin America in 2022. Freixe took over as global CEO from Mark Schneider in September 2024. The appointment of Navratil arrives during a critical period for the company to uphold its values and governance, emphasizing the importance of ethical business practices and operational excellence.
