Nestle removed its chief executive, Laurent Freixe, from his position just a year after he assumed leadership, following an internal investigation into a personal relationship with a direct subordinate which contravened the company’s code of conduct.
According to Reuters, the inquiry was initiated in the spring and overseen by Nestle’s chairman, Paul Bulcke, together with lead independent director Pablo Isla.
In a formal statement, Bulcke said: “This was a necessary decision. Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestle.”
Freixe, a long-serving figure at the food and beverage group, had been appointed in September 2024 after the departure of his predecessor, Mark Schneider. Nestle confirmed that he would not receive an exit package following his immediate removal.
Who is Laurent Freixe?
Born in Paris, Freixe studied at the Ecole de Hautes Etudes Commerciales du Nord in Lille, specialising in marketing. He began his career with Nestle in France in 1986, working across marketing and sales. Over subsequent decades he held leadership roles in several markets, including chief executive of Nestle Hungary in 2003 and head of the Iberian region in 2007.
When Nestle restructured its geographical divisions in January 2022, Freixe was appointed as the chief executive of Zone Latin America. In August 2024, the board selected him to replace Schneider as group chief executive, with his tenure commencing on September 1, 2024.
Nestle’s board moved quickly to appoint Philipp Navratil as the new chief executive of Nestle SA. Navratil, who has been with the company for more than two decades, joined the executive board earlier this year. Before this appointment, he was the chief executive of Nespresso, Nestle’s coffee subsidiary.
Navratil’s career at the group also included a period as senior vice-president and head of the Coffee Strategic Business Unit, where he was responsible for developing the global strategy for the Nescafé brand and managing Nestle's licensing collaboration with Starbucks.
In a statement issued on Monday, he said: “I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestle’s performance.”
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