Today, Nestlé’s Board of Directors announced that Philipp Navratil has been appointed CEO of Nestlé, S.A., following the immediate dismissal of Laurent Freixe.
The dismissal occurred only 12 months after Mark Schneider, Freixe’s predecessor, was terminated by Nestlé in August 2024.
According to a statement by the company, “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.”
Paul Bulcke, Nestlé Chairman told investors, “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé.”
Moving forward, Bulcke stated that Nestlé’s new CEO, Philipp, is “recognized for his impressive track record of achieving results in challenging environments. Renowned for his dynamic presence, he inspires teams and leads with a collaborative, inclusive management style.”
“We are not changing course on strategy and we will not lose pace on performance,” Bulcke concluded.
Philipp Navratil, the newly appointed CEO of Nestlé, stated, “I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestlé’s performance. I look forward to working closely with the entire leadership of the company, in alignment with the Board, Chairman Paul Bulcke, and Chairman-Designate Pablo Isla, to accelerate execution and to drive the value creation plan with intensity.”
Freixe, who spent 39 years with Nestle, will receive no exit package following his departure.
By CEO NA Editorial Staff
