Swiss food giant Nestle dismissed Laurent Freixe as chief executive with immediate effect on Monday. The company cited an “undisclosed romantic relationship with a direct subordinate” as the reason for his removal.
Nestle confirmed the dismissal followed a detailed investigation into the matter. In a swift decision, the board appointed Nespresso CEO Philipp Navratil as the new chief executive. The move came less than a year after Freixe had assumed the top role in September 2024, when he was tasked with reversing consumer spending challenges faced by the multinational behind KitKat, Maggi and Nespresso.
Nestle Board Orders Investigation and Leadership Change
Nestle stated that the departure of Freixe followed an internal investigation that confirmed a breach of the company’s code of business conduct. The board ordered the inquiry under the supervision of chairman Paul Bulcke and lead independent director Pablo Isla, supported by external legal counsel. “This was a necessary decision. Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” chairman Bulcke said. The board stressed that its decision reflected Nestle’s commitment to maintaining ethical standards and safeguarding corporate integrity while ensuring stability in its leadership team.
Freixe’s Career and Nestle’s Market Struggles
Laurent Freixe joined Nestle in France in 1986 and built a long career within the company. He led European operations until 2014, steering the business during the subprime and eurozone crises. Later, he headed the Latin America division before being promoted to chief executive in September 2024.
Freixe was entrusted with addressing weak consumer spending that had impacted Nestle’s performance. However, the company’s share price slumped by nearly a quarter last year. The decline raised concern in Switzerland, where pension funds hold significant investments in Nestle, which owns brands such as Gerber, Purina, Nesquik and Maggi.
Who Is The New Nestle CEO?
Following Freixe’s dismissal, Nestle confirmed the appointment of Philipp Navratil as its new chief executive. Navratil, who joined Nestle in 2001, previously worked in Central America and Mexico, where he led the coffee and beverage business.
In 2020, he took charge of global strategy and innovation for Nescafe and Starbucks brands. He became chief executive of Nespresso in July 2024 and joined the company board in January 2025. “I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestle’s performance,” Navratil said, promising to implement the growth plan with intensity.
Nestle reported a 10.3 percent drop in first-half net profits in July, attributing the decline to sluggish consumer spending in China and higher input costs, including cocoa and coffee prices. Despite the setback, chairman Paul Bulcke expressed confidence in Navratil’s leadership.
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Swastika Sruti is a Senior Sub Editor at NewsX Digital with 5 years of experience shaping stories that matter. She loves tracking politics- national and global trends, and never misses a chance to dig deeper into policies and developments. Passionate about what’s happening around us, she brings sharp insight and clarity to every piece she works on. When not curating news, she’s busy exploring what’s next in the world of public interest. You can reach her at [swastika.newsx@gmail.com]
