Nestlé’s CEO, Laurent Freixe, has been ousted from his position due to an undisclosed romantic involvement with a subordinate, as revealed by an internal inquiry. The 63-year-old executive, who took on the role just last year, was found to have violated the company’s business code of conduct.
Switzerland-based multinational Nestlé has swiftly appointed Philipp Navratil, a 49-year-old Swiss national with an MBA from the University of St. Gallen, as Freixe’s successor. Despite Freixe’s four-decade tenure at Nestlé, starting from negotiating contracts with grocery stores, the company initiated an investigation following allegations against him, overseen by Chair Paul Bulcke and Lead Independent Director Pablo Isla, with external legal support.
In a statement, Bulcke emphasized the necessity of the decision, citing Nestlé’s commitment to strong values and governance. The company, known for brands like KitKat, Häagen-Dazs, and Nespresso, expressed gratitude for Freixe’s long service while upholding its principles.
The newly appointed CEO, Navratil, was commended for his proven ability to deliver results in challenging environments. He joined Nestlé in 2001 as an internal auditor, progressing through various roles before taking on leadership positions in different regions.
Nestlé highlighted Navratil’s leadership qualities and collaborative management style, affirming confidence in his capability to drive growth and enhance operational efficiency. The company assured continuity in its strategic direction under Navratil’s leadership and refrained from disclosing further details regarding Freixe’s policy violation.
Navratil’s journey within Nestlé includes roles in Mexico’s coffee and beverage business, transition to the coffee strategic division, and recent incorporation into the executive board. KitKat, Nestlé’s top confectionery brand in revenue and brand value, continues to thrive globally, with the recent launch of a well-received new flavor.
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