The Nestle board of directors announced on 1/9 the appointment of Philipp Navratil as the new chief executive officer (CEO), replacing Laurent Freixe, whose contract was terminated.

The company stated that the decision followed an investigation into an undisclosed romantic relationship between Freixe and a direct report, violating Nestle's code of conduct. The investigation was overseen by Chairman Paul Bulcke and independent director Pablo Isla, with support from external legal counsel.

Chairman Paul Bulcke said, "This was a necessary decision. Our values and governance rules are the foundation of Nestle. We thank Laurent for his years of service to the company,".

Laurent Freixe speaking at Nestle's annual general meeting on 16/4/2025. Photo: Reuters

Laurent Freixe speaking at Nestle's annual general meeting on 16/4/2025. Photo: Reuters

Speaking to Reuters, a Nestle spokesperson said concerns about a possible relationship between Freixe and a subordinate first surfaced in the spring through the company's internal hotline. The board initiated an investigation shortly after, but it did not reach a clear conclusion.

As concerns persisted, the company launched a second investigation. This confirmed the relationship. The spokesperson also noted that Freixe initially denied the relationship to the board. Nestle stated that Freixe will not receive any severance or compensation package.

The Nestle chairman also announced the appointment of Philipp Navratil as the new CEO, praising his outstanding performance.

Navratil joined Nestle in 2001 as an internal auditor and held various commercial roles in Central America before being appointed general manager of Nestle Honduras in 2009. Earlier this year, he became a member of Nestle's executive board.

Quynh Trang