(RTTNews) – Nestlé S.A. (NSTR.L, NESN.SW) has dismissed its Chief Executive Officer Laurent Freixe with immediate effect following an internal investigation into a breach of the company’s Code of Business Conduct.
The inquiry revealed that Freixe had engaged in an undisclosed romantic relationship with a direct subordinate, a violation of Nestlé’s ethical standards. The investigation was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from independent external counsel, in line with best practice corporate governance.
In response, Nestlé has appointed Philipp Navratil as the new Chief Executive Officer, effective immediately.
Philipp Navratil began his career with Nestlé in 2001 as an internal auditor. After holding various commercial roles in Central America, he was appointed Country Manager for Nestlé Honduras in 2009. In 2013, Philipp Navratil assumed leadership of the coffee and beverage business in Mexico. In 2020, he transitioned to Nestlé’s Coffee Strategic Business Unit, where he was responsible for shaping the global strategy and driving innovation for Nescafé and Starbucks coffee brands. He assumed his position at Nespresso in July 2024. Philipp Navratil joined the Nestlé Executive Board on January 1, 2025.
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