Nestlé has terminated its Chief Executive Officer, Laurent Freixe, following an internal investigation that revealed an undisclosed romantic relationship with a subordinate employee. The board of directors deemed the relationship a serious violation of the company’s code of business conduct. Philipp Navratil, a long-tenured employee, has been appointed as the new CEO. The investigation was overseen by Chairman Paul Bulcke and lead independent director Pablo Isla, with external legal counsel involved. According to the company, Freixe will not receive an exit package. Freixe, who was born in Paris, began his career at Nestlé in 1986. He became CEO of Zone Latin America in January 2022 and was selected to replace Mark Schneider as the global CEO in August 2024, assuming the role on September 1, 2024. Navratil’s appointment arrives as the company focuses on upholding its values and governance standards.
