Nestlé CEO Dismissed Over Code Breach; New Appointment Confirmed
What Happened:
Nestlé has abruptly dismissed CEO Laurent Freixe, who had held the role for less than a year after succeeding Mark Schneider in September 2024.
The dismissal followed a thorough internal investigation which confirmed Freixe had an undisclosed romantic relationship with a direct subordinate, a violation of the company’s Code of Business Conduct.
The probe, overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, revealed the relationship only after repeated complaints and external counsel was engaged.
As a result of his breach, Freixe will not receive an exit package, and his dismissal was deemed “necessary” to uphold Nestlé’s values and governance.
Who’s In Charge Now:
Philipp Navratil, a long-serving Nestlé insider, has been appointed as the new CEO effective immediately. He most recently led Nestlé’s Nespresso division and has held various senior roles across the company since joining in 2001.
Why It Matters:
This marks Nestlé’s third CEO in just over a year, following the exit of Freixe’s predecessor. The latest shake-up raises concerns about leadership stability amid ongoing market headwinds.
Analysts and stakeholders are watching closely to see if Navratil can stabilize operations and refocus strategic momentum.
