Nestlé announces appointment of new CEO

Nestlé has appointed Philipp Navratil as its new CEO following the immediate dismissal of Laurent Freixe, CE Report quotes ANSA.

Freixe's removal comes after an internal investigation revealed an undisclosed romantic relationship with a direct subordinate—a violation of Nestlé’s corporate code of conduct.

In accordance with best practices in corporate governance, the board of directors initiated an investigation, overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with the support of an external, independent advisor.

“It was a necessary decision. Nestlé’s values and governance are the solid foundation of our company. I thank Laurent for his years of service at Nestlé,” said Bulcke in a statement.

He added that Navratil is known for delivering strong results in challenging environments, and that the board is confident he will continue Nestlé’s growth plans and boost efficiency efforts.

“We will not change course on strategy or lose momentum on performance,” Bulcke concluded.