Nestlé has dismissed its chief executive, Laurent Freixe, following an investigation into an “undisclosed romantic relationship” with a direct subordinate that breached the company’s code of business conduct.
The Swiss-based multinational named Philipp Navratil as his successor.
Nestlé said Freixe’s departure, after four decades with the group, came after an inquiry. “This was a necessary decision,” the company said in a statement. “Nestlé’s values and governance are strong foundations of our company."
Freixe had been appointed chief executive a year before after Nestlé removed his predecessor, Mark Schneider.
Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Switzerland. It has been the largest publicly held food company in the world since 2014.
The statement described the incoming CEO Navratil as “recognised for his impressive track record of achieving results in challenging environments” and praised his “dynamic presence” and “inclusive management style”.
Navratil, who joined Nestlé in 2001 as an internal auditor, has held a series of commercial leadership roles across Central America and Mexico. He led Nestlé’s coffee strategic business unit from 2020, before moving to Nespresso in July 2024 and joining the executive board this January.
The case echoes the September 2023 resignation of Bernard Looney, the former chief executive of BP, who stepped down after failing to disclose past relationships with colleagues. Following a board investigation that found he had misled directors, Looney was formally dismissed for serious misconduct and lost about Rs 300 crore in pay and share awards. He was replaced by Murray Auchincloss.
BP has since introduced a policy requiring staff to disclose intimate relationships with colleagues or risk dismissal.
