Nestlé CEO Laurent Freixe fired over undisclosed relationship with subordinate
Nestlé has terminated its chief executive, Laurent Freixe, following an investigation into an “undisclosed romantic relationship” with a subordinate that violated its code of business conduct.
The Swiss-based multinational appointed Philipp Navratil as his successor.
Nestlé stated that Freixe’s departure after 40 years with the company resulted from an investigation led by its chair, Paul Bulcke, and lead independent director, Pablo Isla, with assistance from outside counsel, into the relationship with a direct subordinate in violation of the company’s conduct code.
“This was a necessary decision,” said Bulcke in a statement. “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”
Freixe assumed the chief executive role in September last year after Nestlé, which owns consumer goods brands like KitKat chocolate, Häagen-Dazs ice cream, and Nespresso coffee capsules, dismissed his predecessor, Mark Schneider.
Bulcke, who Nestlé announced in June will step down as chair next year, said Navratil was “recognized for his impressive track record of achieving results in challenging environments.”
He stated Freixe’s successor is “renowned for his dynamic presence, he inspires teams and leads with a collaborative, inclusive management style. The board is confident that he will drive our growth plans forward and accelerate efficiency efforts. We are not changing course on strategy and we will not lose pace on performance.”
Navratil started his career with Nestlé in 2001 as an internal auditor. After holding various commercial roles in Central America, he was appointed country manager for Nestlé Honduras in 2009.
He took on leadership of the coffee and beverage business in Mexico in 2013 and transitioned to Nestlé’s coffee strategic business division in 2020. He moved to Nespresso in July 2024, and joined Nestlé’s executive board on January 1st this year.
In September 2023, the chief executive of the oil multinational BP resigned after not disclosing relationships with colleagues.
Bernard Looney was subsequently formally dismissed from his one-year notice period for serious misconduct after an investigation by the BP board and its advisers found he had knowingly misled his fellow directors when they sought assurances regarding his disclosure of past relationships and his future behaviour.
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