Food group
Relationship to employee: Nestlé releases CEO
Because of a not open relationship with an directly assumed employee, Laurent Freixe loses his position as Nestlé boss. Now Nespresso boss Philipp Navratil takes over.
The Swiss food group Nestlé has deducted CEO Laurent Freixe with immediate effect. The step follows on an investigation into an unexpected “romantic relationship” Freixes with an employee directly subordinate to him, as the company in Vevey announced.
The Board of Directors saw Freixe’s behavior a violation of the Nestlé behavioral code and internal guidelines, as it was said. “That was a necessary decision,” said Nestlé Chairman Paul Bulcke. He thanked Freixe for his years of service for Nestlé.
The Board of Directors Nespresso boss Philipp Navratil appointed the new CEO. The committee emphasized that the strategic orientation remains unchanged, but one wanted to increase the pace in growth and efficiency.
Navratil has been with Nestlé for 24 years. He started his career at the company in 2001 in the internal revision. A year ago he was appointed Nespresso boss. Navratil has been in the group management since the beginning of January.
Nestlé does not come to rest
For Nestlé it is the next abrupt change of leadership in a comparatively short time. Freixe only took the lead at Nestlé in September 2024 and then replaced the German manager and former Fresenius boss Mark Schneider.
Nestlé with around 277,000 employees is the largest food group in the world. According to its own statements, the company sells more than 2,000 brands in 185 countries and has a stock market value of more than 200 billion euros. The share price had developed weakly in recent years, which criticized investors.
dpa
Source: Stern
