Nestlé has dismissed CEO Laurent Freixe after just one year in the role, following an investigation into a romantic relationship with a direct subordinate, which was found to breach the company’s code of conduct.
Philipp Navratil has been appointed as the new CEO with immediate effect.
Freixe, who joined Nestlé in 1986, held senior positions across multiple businesses and markets and was a member of the executive board for 16 years. He was appointed CEO in August last year, after previously serving as executive VP and CEO of Zone Latin America.
The investigation was ordered by Nestlé’s board and overseen by chairman Paul Bulcke and lead independent director Pablo Isla, with the support of external legal counsel.
Bulcke said the board’s decision was unavoidable.
“Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé,” he said.
On Navratil’s appointment, Bulcke described him as a “dynamic and inspirational” leader.
“The board is confident that he will drive our growth plans forward and accelerate efficiency efforts. We are not changing course on strategy, and we will not lose pace on performance.”
Navratil began his career at Nestlé in 2001 as an internal auditor, later serving as country manager for Nestlé Honduras and head of the coffee and beverages business in Mexico, where he strengthened the Nescafé brand.
He also led global coffee strategy for Nescafé and Starbucks before moving to Nespresso in July last year, where he accelerated growth and built momentum. He joined the executive board in January.
Speaking on his new role, Navratil said he was ready to advance the company’s growth agenda.
“I am honoured by the trust the Board has placed in me, and it is a privilege to take on the responsibility of leading Nestlé into the future,” he remarked.
