Nestle has dismissed CEO Laurent Freixe after an internal probe revealed he had an undisclosed relationship with a subordinate, violating company policy.
The board immediately appointed Nespresso chief Philipp Navratil as his replacement. Chairman Paul Bulcke thanked Freixe for nearly four decades of service, stressing that the decision reinforced Nestle’s values.
Freixe joined Nestle in 1986 and became CEO in September 2024 to tackle sluggish consumer spending. However, his short tenure saw falling profits and declining share prices, raising investor concerns.
Navratil, a Nestle veteran since 2001, has held leadership roles in Central America, Mexico, and global coffee strategy. He became Nespresso CEO in 2024 and joined the company’s board in January 2025.
“I fully embrace Nestle’s strategy and will drive the value creation plan with intensity,” Navratil said.
Freixe joins a growing list of global CEOs ousted for undisclosed workplace relationships. Similar cases include BP’s Bernard Looney in 2023, McDonald’s Steve Easterbrook in 2019, and Intel’s Brian Krzanich in 2018.
