Who is Laurent Freixe Nestle CEO: Swiss food giant Nestle announced on Monday that it has dismissed CEO Laurent Freixe with immediate effect after an internal probe confirmed he had engaged in an undisclosed romantic relationship with a direct subordinate.
The maker of Nescafe and Purina said the investigation concluded that Freixe’s relationship breached Nestle’s Code of Business Conduct. The company emphasised that such conduct was inconsistent with its governance standards, AP reported.
“This was a necessary decision,” said Chairman Paul Bulcke. “Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestle.”
Add Zee Business as a Preferred Source
Also Read:Nestle India review: How to trade the stock after 7% slide in two days; JP Morgan stays overweight despite Q1 flop
But how did fiasco get exposed?
According to foreign media reports, the case came to light through Nestle’s whistleblowing channel. An initial inquiry earlier this year had dismissed the allegations as unsubstantiated. However, persistent complaints led to a second investigation, supported by external counsel, which confirmed the relationship and its conflict of interest.
The name of the subordinate involved has not been disclosed, though the individual was not a member of the executive board.
Also Read:Nestle India Q1 results: Profit falls 13% to Rs 647 crore; board appoints Manish Tiwary as CMD, shares tumble
From how long Laurent Freixe was with Nestle ?
Freixe, 63, had been CEO for just one year, succeeding Mark Schneider on September 1, 2024. He will now be replaced by Philipp Navratil, a longtime Nestle executive who previously led the company’s Nespresso division.
Navratil joined Nestle in 2001 as an internal auditor and has held roles across Central America, the Coffee Strategic Business Unit, and more recently as head of Nespresso.
Freixe’s dismissal ends his 40-year career at Nestle, which began in 1986 negotiating grocery contracts. He went on to hold leadership roles across Europe and Latin America before becoming CEO of Zone Latin America in 2022. His ascent to global CEO in 2024 marked the pinnacle of his career.
The shake-up comes amid a broader reshuffling of Nestle’s top ranks. In June, Chairman Paul Bulcke announced he would step down in 2026, while in April, Steve Presley, EVP and CEO of Zone Americas, retired after nearly three decades.
