Swiss meals large Nestlé stated Monday it dismissed its CEO, Laurent Freixe, attributable to an inappropriate relationship with a subordinate.
The maker of Nescafé drinks and Purina pet meals stated in an announcement that the dismissal was efficient instantly. An investigation discovered the undisclosed romantic relationship with a direct subordinate violated Nestlé’s code of conduct.
Nestle CEO Laurent Freixe speaks at a session throughout the World Financial Discussion board (WEF) annual assembly in Davos on January 22, 2025.
FABRICE COFFRINI/AFP through Getty Photographs
The direct subordinate was not recognized.
Freixe had been CEO for a 12 months, in line with the corporate. He first joined Nestlé in France in 1986, working in advertising and marketing and gross sales. He later grew to become the top of the Vitamin Division of Nestlé France in 1999. Freixe continued to work his approach up the company ladder, changing into regional CEO of Nestlé earlier than lastly being appointed the highest place final September.
He can be changed as CEO by Philipp Navratil, a longtime Nestlé govt.
“This was a necessary decision,” stated Chairman Paul Bulcke. “Nestlé’s values and governance are strong foundations of our company.”
Navratil began his profession with Nestlé in 2001 as an inside auditor and served in quite a lot of roles in Central America. In 2020, he joined Nestlé’s Espresso Strategic Enterprise Unit, and in 2024, he grew to become CEO of Nestlé’s Nespresso division.
