"Nestle has dismissed its chief executive, Laurent Freixe, after an investigation into an undisclosed romantic relationship with a subordinate that was found to have breached its code of business conduct. The Swiss-headquartered multinational named Philipp Navratil as his replacement. Nestle said Freixe's departure after 40 years at the company followed an investigation overseen by its chair, Paul Bulcke, and lead independent director, Pablo Isla, with the support of outside counsel, into the relationship with a direct subordinate in breach of company's conduct code."
"Freixe took over the chief executive role in September last year after Nestle, which owns consumer goods brands including KitKat chocolate, Haagen-Dazs ice-cream and Nespresso coffee capsules, ousted his predecessor, Mark Schneider. Bulcke, who Nestle announced in June is set to step down as chair next year, said Navratil was recognised for his impressive track record of achieving results in challenging environments."
"Navratil began his career with Nestle in 2001 as an internal auditor. After holding various commercial roles in Central America, he was appointed country manager for Nestle Honduras in 2009. He assumed leadership of the coffee and beverage business in Mexico in 2013, and transitioned to Nestle's coffee strategic business division in 2020. He moved to Nespresso in July 2024, and joined Nestle's executive board on 1 January this year."
Nestle dismissed chief executive Laurent Freixe after an investigation found an undisclosed romantic relationship with a direct subordinate that breached the company code of business conduct. The investigation was overseen by chair Paul Bulcke and lead independent director Pablo Isla with outside counsel. Philipp Navratil was named as Freixe's replacement; the board cited his track record, dynamic presence, collaborative management style, and ability to drive growth and efficiency. Freixe had become CEO in September after Mark Schneider's departure. Navratil joined Nestle in 2001 and progressed through roles in Central America, Honduras, Mexico, the coffee division, and Nespresso.
Read at www.theguardian.com
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