**Nestlé CEO Laurent Freixe Dismissed Amid Conduct Investigation**
Nestlé has removed its chief executive, Laurent Freixe, just a year after his appointment, due to an investigation into an undisclosed romantic relationship with a direct subordinate that breached the company’s code of conduct. The investigation, initiated in the spring of this year, was led by Nestlé’s chairman, Paul Bulcke, and lead independent director, Pablo Isla.
“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 stated.
Freixe, a seasoned executive within the food and beverage industry, took over as CEO in September 2022 after the dismissal of his predecessor, Mark Schneider. Born in Paris and educated at Ecole de Hautes Etudes Commerciales du Nord in Lille, Freixe began his career with Nestlé in France in 1986, where he held various marketing and sales roles. He later served as CEO of Nestlé Hungary in 2003 and the Nestlé Iberian region in 2007. Following a restructuring in January 2022, he became the CEO of Zone Latin America before being appointed CEO of Nestlé SA in August 2023.
Nestlé confirmed that Freixe will not receive an exit package following his immediate dismissal.
**Philipp Navratil Appointed as New CEO**
In the wake of Freixe’s departure, the board of directors has swiftly appointed Philipp Navratil as the new CEO of Nestlé SA. Navratil, a company veteran with over 20 years of experience, joined the executive board at the beginning of this year. Before his new role, he served as the chief executive of Nespresso, Nestlé’s coffee division, and has held positions such as senior vice president and head of the Coffee Strategic Business Unit, overseeing global strategy for the Nescafé brand and a licensing partnership with Starbucks.
“I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestlé’s performance,” Navratil stated in a recent announcement.
As Nestlé transitions to new leadership, the company remains focused on upholding its values and governance standards while continuing to drive performance in the competitive food and beverage market.
**FAQ**
*What led to Laurent Freixe’s dismissal from Nestlé?*
Laurent Freixe was dismissed due to an investigation into a romantic relationship with a direct subordinate that violated Nestlé’s code of business conduct.