Nestlé CEO Laurent Freixe Resigns After Code of Conduct Breach
ZURICH – Nestlé has announced the abrupt resignation of Chief Executive Officer Laurent Freixe following an internal investigation into a workplace relationship that violated company policy.
Freixe, who took over as CEO just a year ago after the exit of Mark Schneider, stepped down after an inquiry led by Chairman Paul Bulcke and Lead Independent Director Pablo Isla confirmed the breach.
“This was a necessary decision,” Bulcke said in a statement. “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service. We are not changing course on strategy, and we will not lose pace on performance.”
To ensure stability, Nestlé has appointed long-time executive Philipp Navratil as Freixe’s successor, effective immediately. Navratil, who most recently headed the Nespresso unit, has been with the company since 2001 and held senior roles across Central America, Mexico, and Nestlé’s global coffee division. He joined the executive board earlier this year.
The leadership shake-up adds to a wave of executive turnover across global consumer goods giants. Rivals such as Unilever, Diageo, and Hershey have all seen sudden changes at the top in 2024. In May, U.S. retailer Kohl’s dismissed CEO Ashley Buchanan after an investigation revealed conflicts of interest linked to a personal relationship.
Nestlé also faces broader uncertainty as its long-serving Chairman Paul Bulcke prepares to step down next year, leaving Europe’s largest food group to navigate mounting consumer pressures and the threat of global trade tariffs.
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