Nestlé Fires CEO Laurent Freixe Over Undisclosed Relationship, Appoints Philipp Navratil.
Nestlé has dismissed Chief Executive Laurent Freixe after an internal investigation found he had an undisclosed romantic relationship with a direct subordinate, breaching the company’s code of conduct. The inquiry was ordered by the board and led by Chairman Paul Bulcke and lead independent director Pablo Isla, with assistance from external counsel. “This was a necessary decision,” Bulcke said. “Nestlé’s values and governance remain strong foundations of our company.”
Philipp Navratil, who joined Nestlé in 2001 and most recently headed the Nespresso division, has been named the new CEO. Over his career, he has held senior roles in Central America and within the company’s global coffee business.
Based in Vevey, Switzerland, Nestlé is contending with rising commodity costs and tariffs. The company said in July that recent price hikes had helped offset higher expenses for coffee and cocoa.
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