Omodele Adigun
Nestlé has dismissed its Chief Executive Officer, Mr Laurent Freixe, with immediate effect after an internal investigation uncovered an undisclosed romantic relationship with a direct subordinate.
The multinational behind KitKat, Maggi, Nespresso and Purina confirmed in a statement on Monday that the decision followed a board-supervised probe into Freixe’s conduct.
“The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestlé’s code of business conduct,” the statement read.
The board disclosed that the investigation was overseen by Chairman Paul Bulcke and lead independent director Mr Pablo Isla, with the assistance of external counsel.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” Bulcke said in a signed statement.
In a swift leadership reshuffle, Mr Philipp Navratil, head of Nestlé’s Nespresso division, was appointed by fellow board members to assume the role of CEO.
Freixe, who joined the Swiss food giant in 1986, previously led the company’s European and Latin American divisions before his elevation to chief executive in September 2024. He was tasked with steering Nestlé through slowing consumer spending and growing investor pressure.
His tenure coincided with a turbulent year in which the company’s share price slumped by nearly 25 per cent, rattling Swiss pension funds that are heavily invested in the multinational.
Despite his long service, the scandal and financial downturn appear to have sealed his fate.
Nestlé, one of the world’s largest food and beverage corporations, continues to face scrutiny from investors demanding stronger governance and accountability from its top executives.
