After the Coldplay kiss cam incident and Astronomer CEO Andy Byron’s resignation, Nestlé also witnessed the sacking of its Chief Executive Officer Laurent Freixe for his undisclosed romantic relationship with an employee. Laurent Freixe was fired following an internal investigation that revealed he had a romantic relationship with a subordinate. The company says that the act of the CEO is a serious violation of its code of business conduct. Philipp Navratil, a long-serving employee, has been appointed as the new CEO, a Bloomberg report said.
The investigation was ordered by the board of directors and was overseen by chairman Paul Bulcke and lead independent director Pablo Isla. An external legal counsel was also hired throughout the process. “This was a necessary decision,” Bulcke said underscoring the importance of maintaining strong governance within the company. “Nestlé’s values and governance are strong foundations of our company.” He added.
All About Laurent Freixe
The ousted chief executive was born in Paris and educated at Ecole de Hautes Etudes Commerciales du Nord in Lille, where he majored in Marketing. He began his career at Nestlé in France in 1986, working in marketing and sales. Over the years, he held positions in different countries, becoming the CEO of Nestlé in Hungary in 2003 and later taking charge as CEO of the company’s Iberian region in 2007.
When Nestlé reorganized its global structure in January 2022, Laurent Freixe was appointed CEO of Zone Latin America. In August 2024, he was selected to replace Mark Schneider as the company’s global CEO and officially took charge on September 1, 2024. However, following his sudden dismissal, Nestlé told Reuters that he would not receive any exit package.
The board of directors has already announced the immediate appointment of Philipp Navratil as the new CEO of Nestlé SA. Navratil’s appointment as CEO comes at a crucial time as the company seeks to uphold its values and governance standards amid these challenges. His extensive experience within the company positions him well to lead Nestlé into its next chapter, ensuring a focus on maintaining ethical business practices and operational excellence.
Navratil’s appointment as CEO comes at a critical time, with the company working to uphold its values and governance standards amid ongoing challenges. With his extensive experience at Nestlé, he is considered well placed to guide the company into its next phase, with a strong focus on ethical business practices and operational excellence.
