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VEVEY, Switzerland - Nestlé S.A. appointed Philipp Navratil as its new CEO on Monday, following the immediate dismissal of Laurent Freixe for breaching the company’s Code of Business Conduct, according to a company press release.
Freixe was removed after an investigation revealed he had an undisclosed romantic relationship with a direct subordinate. The investigation was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from independent outside counsel.
"This was a necessary decision. Nestlé’s values and governance are strong foundations of our company," Bulcke stated in the announcement.
Navratil, who joined Nestlé in 2001, has held various leadership positions throughout his career with the company. He previously served as Country Manager for Nestlé Honduras, led the coffee and beverage business in Mexico, and most recently managed Nespresso operations since July 2024. He became a member of Nestlé’s Executive Board in January 2025.
Bulcke expressed confidence in the new appointment, noting that Navratil "is recognized for his impressive track record of achieving results in challenging environments." He emphasized that the company would maintain its strategic direction and performance goals under the new leadership.
In his statement, Navratil said: "I am honored by the trust the Board has placed in me, and it is a privilege to take on the responsibility of leading Nestlé into the future. I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestlé’s performance."
The board affirmed that the company will not change its current strategic course following this leadership transition.
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