Nestlé dismisses CEO due to an inappropriate relationship with a subordinate
Swiss food giant Nestlé said Monday it dismissed its CEO Laurent Freixe due to an inappropriate relationship with a subordinate.
The maker of Nescafé drinks and Purina pet food said in a statement the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestlé’s code of conduct.
Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a longtime Nestlé executive.
“This was a necessary decision,” said Chairman Paul Bulcke. “Nestlé’s values and governance are strong foundations of our company.”
Navratil started his career with Nestlé in 2001 as an internal auditor and served in a variety of roles in Central America. In 2020, he joined Nestlé’s Coffee Strategic Business Unit, and in 2024, he became CEO of Nestlé’s Nespresso division.
More Stories
Burnham rules out early election as poll puts Labour on 209 seats
Labour would be the largest party in the House of Commons but fall 117 seats short of an overall majority...
Oil back at $100: Time to worry?
Renewed hostilities between the US and Iran, coupled with Houthi attacks in the Red Sea, are raising concerns as global...
US regulator rejects Wise application for banking licence
Wise has been refused a US banking licence, the payments company said, months after switching its primary stock market listing...
What Alpha Generation Actually Means in Trading
Most people who spend time around financial markets have heard the word “alpha” thrown around. It gets used loosely, sometimes...
Future-Proofing SMB Marketing: Scaling Visual Content with Pollo AI
In the current business landscape, small and medium-sized enterprises (SMBs) are operating in an environment that demands more content than...
Dragons’ Den star bags £900m as Vitabiotics falls to US buyer
Another British success story is passing into American hands. Vitabiotics, the Perfectil and Pregnacare maker that grew from a single...
