Swiss multinational Nestlé announced on Monday that its CEO Laurent Freixe was dismissed following an internal investigation into an undisclosed relationship with a direct subordinate.
The company, known for brands like Nescafé and Purina pet food, confirmed in a statement that Freixe’s dismissal is effective immediately. The investigation revealed that the romantic relationship violated Nestlé’s code of conduct, reports AP/UNB.
Philipp Navratil, a seasoned executive at Nestlé, will take over as CEO.
“This was a necessary decision,” said Chairman Paul Bulcke. “Nestlé’s values and governance are strong foundations of our company.”
Nestlé did not provide further details.
Freixe, who had been with Nestlé since 1986, had held various positions globally before becoming CEO of Zone Latin America in January 2022. In August 2024, he was appointed to the role of CEO, succeeding Mark Schneider, and officially started his tenure on September 1, 2024.
Navratil, who joined Nestlé in 2001, has held numerous roles within the company, including working as an internal auditor and serving in various leadership positions in Central America. He later worked in its Coffee Strategic Business Unit and became CEO of Nespresso in 2024.
This marks the latest in a series of leadership changes at Nestlé. In June, Chairman Paul Bulcke, who has been chairman of the board since 2017, announced he would not seek re-election in 2026. Additionally, in April, Steve Presley, CEO of Zone Americas, announced his retirement after nearly three decades of service.
Nestlé, headquartered in Vevey, Switzerland, has faced challenges similar to other food industry giants, including rising raw material costs and the effects of tariffs. The company reported in July that it had offset these challenges by increasing prices for its coffee and cocoa products.
