Nestlé Dismisses CEO Freixe for Code Breach, Appoints Navratil

Nestlé has dismissed its CEO Laurent Freixe following an internal investigation that uncovered an undisclosed romantic relationship with a direct subordinate, which violated the company's Code of Business Conduct. The investigation was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla. Bulcke described the dismissal as a necessary decision, emphasizing the importance of Nestlé's values and governance, and thanked Freixe for his years of service. Philipp Navratil, who has been with Nestlé for over two decades and most recently led Nespresso, has been appointed as the new CEO with immediate effect. Navratil's extensive experience within the company spans roles in auditing, commercial management in Central America, and leadership of Nestlé's coffee and beverage units. This leadership change aims to uphold Nestlé’s commitment to strong corporate governance and ethical standards.