Nestle CEO Laurent Freixe: The Swiss food giant has not shared any further details about the investigation and has not disclosed any information related to Freixeโs compensation for his brief tenure at the top post.
Nestle, the world’s largest food company, has fired its chief executive officer (CEO), Laurent Freixe, after an internal investigation found that he was engaged in an undisclosed romantic relationship with a direct subordinate, in violation of the companyโs code of conduct. Freixe, who had been CEO for a year, was about to retire in a year. The Swiss food giant has not shared any other details about the investigation and has not disclosed anything related to Freixeโs compensation for his short stint at the top post.
โThis was a necessary decision,โ said Chairman Paul Bulcke. โNestlรฉ’s values and governance are strong foundations of our company.โ
Freixeย Joined Nestle In 1986
Freixe had been with Nestlรฉ since 1986, holding roles around the world. When the FMCG giant revamped its geographic structure in January 2022, Freixe became CEO of Zone Latin America. In August 2024, he was appointed to replace then-CEO Mark Schneider in the top role and took charge on September 1, 2024.
Philipp Navratil To Be Nestle’s New CEO
Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a longtime Nestlรฉ executive.
Navratil started his career with Nestle in 2001 as an internal auditor and served in a variety of roles in Central America. In 2020, he joined Nestle’s Coffee Strategic Business Unit, and in 2024, he became CEO of Nestle’s Nespresso division.
Company Facing A String Of Changesย
It’s the latest in a string of personnel changes for the company. In June, Bulcke, a former CEO who has been chairman of the board since 2017, said he wouldn’t stand for reelection in 2026. In April, Steve Presley, an executive vice president and CEO of Zone Americas, announced his retirement after nearly 30 years of service.
Based in Vevey, Switzerland, Nestlรฉ has been facing headwinds similar to those of other food manufacturers, including rising commodity costs and the negative impact of tariffs.
With agency inputs