Search Here

Nestlé has officially dismissed its CEO, Laurent Freixe, after it was revealed he had an undisclosed romantic relationship with a direct subordinate, violating the company's code of conduct. The decision was announced Monday and took effect immediately.

The Swiss food giant, known for brands like KitKat, Purina, and Nescafé, said the termination came after a thorough internal investigation. Freixe, 62, had served as CEO for only one year.

"This was a necessary decision," said Nestlé Chairman Paul Bulcke in a statement. "Nestlé's values and governance are strong foundations of our company. I thank Laurent for his years of service."

Nestlé did not name the subordinate involved in the relationship. A company spokesperson told Reuters that the issue was first reported through an internal hotline earlier this year.

An initial investigation did not confirm the claims, but after ongoing concerns, a second review led by Bulcke and Lead Independent Director Pablo Isla — with help from an outside firm — confirmed the relationship. Freixe reportedly denied it at first.

Nestlé CEO Laurent Freixe Fired, No Exit Package Given

Because of the misconduct and lack of disclosure, Nestlé said Freixe will not receive an exit package.

Freixe began his career at Nestlé in France in 1986, rising through various leadership roles. In 2024, he succeeded Mark Schneider, who had also been removed as CEO.

His departure marks the second time in two years that Nestlé has abruptly changed leadership at the top.

Replacing Freixe is Philipp Navratil, a veteran Nestlé executive who most recently led the company's Nespresso division, CBS News said.

Navratil, who started with Nestlé in 2001 as an internal auditor, has held multiple leadership roles in Latin America and in the global coffee business.

The leadership shake-up adds to the pressure Nestlé is already facing. The company's stock has dropped 17% over the past year, underperforming against competitors and broader markets.

Analysts at JP Morgan noted that the surprise change may "keep afloat the question mark about the mid-term direction of the company."

This latest incident puts Nestlé among several major global firms rocked by leadership misconduct in 2025, including companies like Kohl's, Diageo, and Hershey.