Overview
- Nestlé dismissed Laurent Freixe with immediate effect after concluding he failed to disclose a romantic relationship with a direct subordinate, violating the company’s Code of Conduct.
- Board appointed Nespresso head Philipp Navratil as CEO and said the existing strategy stands, with a push to accelerate growth and efficiency.
- Freixe will receive no severance, according to the company, and the investigation was overseen by chairman Paul Bulcke with involvement from director Pablo Isla and external legal advisers.
- Initial whistleblower reports in the spring triggered an internal review that found no evidence before further internal reports and an external investigation produced findings that led to action.
- Nestlé shares fell by up to about 2% in Zurich trading as analysts questioned governance, the succession process, and the company’s medium‑term direction.