Nestlé Ousts CEO Laurent Freixe Over Undisclosed Subordinate Relationship

Nestlé has announced the dismissal of its Chief Executive Officer, Laurent Freixe, following the discovery of an undisclosed romantic relationship with a direct subordinate. This action, a clear violation of corporate policy, marks an abrupt end to Freixe’s tenure, which began just one year ago.

Philipp Navratil, formerly the chief executive of Nestlé Nespresso, has been appointed as Freixe’s successor.

Freixe, a veteran of the Swiss food and beverage giant with four decades of service, was tasked with revitalizing growth after a period of sluggish performance. His dismissal comes amidst a challenging period for Nestlé, which reported a 1.8% drop in half-year group sales to 44.2 billion Swiss francs (approximately $55 billion) in July, reflecting softening consumer demand.

The investigation leading to Freixe’s departure was overseen by board chairman Paul Bulcke and independent board member Pablo Isla, with external legal counsel. Bulcke emphasized the decision’s necessity, stating, “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.”

Despite the leadership change, Nestlé’s board chairman affirmed that the company’s strategic direction remains unchanged, with a continued focus on core strengths like coffee, pet care, and food.

阅读中文版 (Read Chinese Version)

Disclaimer: This content is aggregated from public sources online. Please verify information independently. If you believe your rights have been infringed, contact us for removal.