Nestle has dismissed its CEO, Laurent Freixe, after a code of conduct breach, the company said on Monday, appointing Philipp Navratil as his successor.
Nestle said Freixe’s departure follows an investigation overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla into an undisclosed romantic relationship with a direct subordinate, which breached the company’s code of business conduct, News.Az reports, citing CNN.
“This was a necessary decision,” said Bulcke in a statement. “Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”
Company veteran Freixe took over the CEO role in September last year after Nestle ousted his predecessor, Mark Schneider.
Navratil began his career with Nestle in 2001 as an internal auditor. After holding various commercial roles in Central America, he was appointed country manager for Nestle Honduras in 2009.
He assumed leadership of the coffee and beverage business in Mexico in 2013, and transitioned to Nestle’s Coffee strategic business unit in 2020.
He moved to Nespresso in July 2024, and joined the Nestle executive board on January 1 this year.
