Nestlé fires CEO Laurent Freixe over undisclosed relationship with subordinate

Swiss food giant Nestlé announced on Monday the immediate dismissal of its CEO, Laurent Freixe, after an internal investigation revealed an undisclosed romantic relationship with a direct subordinate. The relationship was found to violate the company’s code of conduct.

According to Reuters, Freixe, who had been CEO for just over a year, will be replaced by longtime Nestlé executive Philipp Navratil. Navratil began his career at Nestlé in 2001 as an internal auditor and has held several leadership roles, including heading the Coffee Strategic Business Unit and serving as CEO of Nespresso since July 2024.Coldplay

The investigation into Freixe’s conduct was overseen by Nestlé Chair Paul Bulcke and lead independent director Pablo Isla, with support from external counsel. “This was a necessary decision,” Bulcke said. “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”

Navratil, described as having a dynamic and collaborative management style, is expected to drive Nestlé’s growth and efficiency initiatives while maintaining the company’s strategic direction.

Freixe assumed the CEO role in September 2023, following the departure of Mark Schneider. Nestlé emphasised that the dismissal aligns with global corporate governance standards, reflecting growing expectations that executives disclose personal relationships with subordinates.

Separately, Flipkart highlighted the influence of movies and celebrities in shaping consumer trends. With a majority of Gen Z users consuming content on these themes, the company said that acquiring a leading infotainment platform aligns with its strategy to deepen engagement with this audience.

Laurent Freixe became Nestlé’s CEO in September 2024. A veteran of the company, he joined Nestlé in 1986 in France, rising through roles in Marketing and Sales. By 1999, he headed Nestlé France’s Nutrition Division.

Freixe served as CEO of Nestlé Hungary in 2003 and CEO of the Nestlé Iberian Region in 2007. In November 2008, he joined Nestlé S.A.’s Executive Board as Executive Vice President overseeing Zone Europe, later becoming CEO of Zone Americas, the company’s largest region, in 2014. Following a restructuring in January 2022, he became CEO of Zone Latin America.

During his CEO tenure, Nestlé praised Freixe as a “natural leader” driving innovation and performance. He spearheaded initiatives such as Nestlé Needs YOUth, launched in Europe in 2013, which aims to provide employment and skill-building opportunities for young people under 30. The program targets 10 million youth worldwide by 2030.

Born in Paris, Freixe studied at Ecole de Hautes Etudes Commerciales du Nord in Lille and participated in the IMD Program for Executive Development in Switzerland.