Nestlé Dismisses CEO Laurent Freixe Over Code of Conduct Breach, Appoints Philipp Navratil

Vevey, Switzerland (September 1, 2025) - Nestlé S.A. announced today the immediate dismissal of Chief Executive Officer Laurent Freixe following an internal investigation that uncovered an undisclosed romantic relationship with a direct subordinate, constituting a breach of the company’s Code of Business Conduct. The board has named long‐time executive Philipp Navratil as Freixe’s successor, effective immediately.

The probe, ordered by Chairman Paul Bulcke and overseen by Lead Independent Director Pablo Isla with support from external counsel, concluded that Freixe failed to disclose the relationship, violating Nestlé’s strict governance policies. “This was a necessary decision,” Bulcke said. “Nestlé’s values and governance are the bedrock of our organization. I thank Laurent for his years of service”.

Freixe, who had led the world’s largest food and beverage company since September 2024, joined Nestlé in 1986 and rose through various marketing and leadership roles, including overseeing European operations and Latin America. His abrupt departure marks a significant leadership shake-up amid challenges such as tariff pressures and shifting consumer habits.

Philipp Navratil, 50, brings over two decades of Nestlé experience to the top role. After starting as an internal auditor in 2001, he held commercial positions in Central America and led the Coffee Strategic Business Unit before serving as CEO of Nespresso since July 2024. “I fully embrace the company’s strategic direction and action plan to enhance performance,” Navratil stated. “I look forward to working with the entire leadership team to drive value creation with intensity”.

Investors reacted cautiously to the news. Nestlé shares closed at CHF 75.49 on the Swiss stock exchange, up 0.13% on the day, as market participants weigh the impact of the governance breach against hopes that Navratil’s operational expertise will sustain strategic continuity and shareholder value.