Nestle has dismissed its chief executive officer after a board-ordered investigation concluded that he had been involved in an “undisclosed romantic relationship” with a “direct subordinate,” breaching the company’s code of conduct.
Laurent Freixe, 63, had been with Nestle for almost four decades. Last September, he replaced Mark Schneider as global chief executive.
Newsweek contacted Nestle’s press office for comment via email on Tuesday.
Why It Matters
Nestle is the world’s largest food company and a household-name brand with significant pension-fund exposure.
The company’s removal of its CEO after less than a year in the role comes amid broader management changes and financial pressures, including higher commodity costs and tariffs.
What To Know
In a news release on Monday, Nestle said it fired Freixe with immediate effect following the investigation overseen by Chairman Paul Bulcke and lead independent director Pablo Isla.
The probe included input from independent outside counsel after internal enquiries produced inconclusive findings.
The BBC reported that Freixe would not receive an exit package.
Freixe joined Nestle in 1986, led regional operations—including Zone Latin America—and became global CEO in September.
The leadership change follows other recent shifts at the company, including Bulcke’s announcement that he will not seek reelection in 2026 and the retirement earlier this year of Zone Americas chief Steve Presley.
Nestle, headquartered in Switzerland, has a portfolio that includes coffee brands—such as Nescafe and Nespresso—and confectionary, such as Kit Kat, Smarties, Aero and Milky Bar.
What People Are Saying
Paul Bulcke, the chairman of Nestle, said in a news release on Monday: “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé.”
Nestle’s board said in a statement on Monday: “The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate, which breached Nestlé’s code of business conduct.”
What Happens Next
Nestle’s board has appointed Philipp Navratil, a longtime executive at the company who led the Nespresso business, as Freixe’s replacement in the chief executive role.
The board indicated that it would continue the company’s strategic course without change, while preparing for a scheduled chair transition when Bulcke steps down in 2026.
Reporting by the Associated Press contributed to this story.
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