Nestlé has fired its chief executive officer, Laurent Freixe, for what it claimed was an inappropriate relationship with a subordinate employee.
The world’s largest packaged-food maker said in a Monday press release its board of directors had ordered a probe into the undisclosed romantic relationship which it found had violated the company’s code of conduct.
“This was a necessary decision,” the board’s chairman, Paul Bulcke, said. “Nestlé’s values and governance are strong foundations of our company.”
Bulcke also thanked Freixe for his “years of service” at the Swiss company.
The Independent has reached out to Nestlé for comment.
Freixe had worked at Nestlé for nearly 40 years but his time as CEO was rather short. He was appointed to the position in September 2024 replacing Mark Schneider.
When Schneider was ousted that August, the Wall Street Journal reported there had been concerns from senior employees and board members about whether he was a good cultural fit for the company.
Philipp Navratil, CEO of Nestlé Nespresso, a Nestlé company that produces coffee makers, will assume Freixe’s role, the company announced Monday. Navratil has been with the company since 2001 and joined its executive board this past January.
"I am honored by the trust the Board has placed in me, and it is a privilege to take on the responsibility of leading Nestlé into the future,” Navratil said in a statement Monday.
“I fully embrace the company's strategic direction, as well as the action plan in place to drive Nestlé's performance.”
While Nestlé may be best known for its Toll House chocolate chips or Nesquik, it owns a plethora of grocery brands, from DiGiorno frozen pizza to Gerber baby food to Purina pet food.
The company reported in July organic sales growth of 3 percent for its second fiscal quarter. That same month, Nestlé said it was reviewing its underperforming vitamins, minerals and supplements business, according to multiple reports.
