The Swiss-based multinational named Philipp Navratil as Freixe’s replacement. Freixe’s departure marks the end of his 40-year tenure with the company. The investigation was overseen by Nestlé's chair, Paul Bulcke, and lead independent director, Pablo Isla, with assistance from external legal counsel.
"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."
Freixe, who had only taken over the chief executive role last September, succeeded his predecessor, Mark Schneider. His removal comes just months after he stepped into the top leadership position.
Bulcke, who is scheduled to step down as chair next year, expressed confidence in Navratil's ability to lead, noting his "impressive track record of achieving results in challenging environments." He praised Navratil’s "dynamic presence" and collaborative leadership style, stating that the board is confident he will "drive our growth plans forward and accelerate efficiency efforts." Bulcke emphasized that the company's strategic course would not change and that performance would not falter.
Navratil's career with Nestlé began in 2001 as an internal auditor. He held various commercial roles in Central America before being appointed country manager for Nestlé Honduras in 2009. He later led the coffee and beverage business in Mexico in 2013, joined Nestlé’s coffee strategic business division in 2020, and moved to Nespresso in July 2024. Navratil joined Nestlé’s executive board on January 1 of this year.
This incident follows a similar high-profile case in September 2023, when BP's chief executive, Bernard Looney, resigned after failing to disclose relationships with colleagues. Looney was later formally dismissed for serious misconduct, a decision that resulted in the loss of more than £32 million in pay and share awards. His replacement was Murray Auchincloss. Following the incident, BP implemented a new policy requiring employees to disclose intimate relationships with colleagues or face termination.