Nestlé CEO Laurent Freixe Dismissed After Internal Probe; Philipp Navratil Named Successor
Nestlé has announced the immediate dismissal of its Chief Executive Officer, Laurent Freixe, following the outcome of an internal investigation into an undisclosed romantic relationship with a direct subordinate, which was found to be in violation of the company’s code of conduct.
The Swiss multinational, known for global brands such as KitKat, Nescafé, and Purina, confirmed that Philipp Navratil has been appointed as the new CEO.
“Maintaining strong governance and ethical standards is at the heart of our company. This was a necessary decision,” said Nestlé Chair Paul Bulcke, while thanking Freixe for his nearly four decades of service.
Freixe’s removal comes just one year after he took over from Mark Schneider, during which time the group reported a net profit of CHF 10.9 billion. Nestlé, valued at CHF 191 billion, oversees a portfolio of more than 2,000 brands across coffee, confectionery, pet care, and nutrition.
Analysts believe the leadership transition comes at a critical time. Jean-Philippe Bertschy of Vontobel Bank noted that Nestlé has already been under scrutiny amid slowing sales and regulatory challenges. In July, French authorities carried out a raid on Nestlé’s offices over alleged irregularities in bottled mineral water production.
The appointment of Navratil, described as a seasoned leader with a strong track record, is seen as a stabilizing move to restore investor confidence at a time of heightened pressure.
