Nestlé CEO Laurent Freixe Dismissed After Romantic Relationship Probe with Subordinate | Philipp Navratil Appointed New CEO
Nestlé CEO Laurent Freixe Dismissed After Romantic Relationship Probe with Subordinate | Philipp Navratil Appointed New CEO Key Takeaways CEO dismissed for policy violation : Laurent Freixe was ousted immediately after an investigation found he had an undisclosed romantic relationship with a direct subordinate, breaching Nestlé's Code of Business Conduct . Seasoned replacement : Philipp Navratil, a Nestlé veteran since 2001 who most recently led Nespresso, has been appointed as the new CEO effective immediately . Board emphasizes values : Chairman Paul Bulcke stated the dismissal was "necessary" to uphold the company's governance foundations and values, despite thanking Freixe for his years of service . No strategy change expected : The Board confirmed Nestlé will maintain it's current strategic direction under Navratil's leadership . Second CEO departure in a year : This marks Nestlé's second abrupt CEO change in approximately 12 months, following Mark Sc...