Vevey (Switzerland): Swiss food and beverage giant Nestlé announced on Monday that it had terminated Chief Executive Officer Laurent Freixe with immediate effect, citing an “undisclosed romantic relationship with a direct subordinate”. The company said the move followed a formal investigation into the matter.
Freixe, who became Nestlé’s CEO in September 2024, had a long-standing career at the multinational, which owns brands including Nespresso and KitKat. He joined Nestlé in France in 1986, taking on roles across marketing and sales, before moving into leadership positions in the company’s regional divisions. He became CEO of Nestlé Hungary in 2003, later heading the Iberian region in 2007. In 2008, he joined the Nestlé S.A. Executive Board as Executive Vice President responsible for Zone Europe, and in 2014, he was appointed CEO of Nestlé’s Zone Americas. In 2022, following a reorganisation of the company’s geographic structure, Freixe took on the role of CEO Zone Latin America.
In a company statement, Nestlé noted, “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. In line with best practice corporate governance, the Board ordered an investigation overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from independent outside counsel.” Philipp Navratil, the CEO of Nespresso, has been appointed as Freixe’s immediate successor by Nestlé’s board.
Chairman Paul Bulcke described the decision as “necessary” and reaffirmed the company’s commitment to its governance framework. “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé,” Bulcke said.
During his tenure, Freixe was recognised for driving performance and innovation across Nestlé’s operations and for leading initiatives such as the Nestlé Needs YOUth programme in Europe, launched in 2013. The initiative aims to provide employment and skills development opportunities for young people under 30, with a global target of reaching 10 million individuals by 2030. Born in Paris, Freixe was educated at Ecole de Hautes Etudes Commerciales du Nord in Lille and attended the IMD Program for Executive Development in Switzerland. His career at Nestlé spanned nearly four decades, shaping regional and global strategies for the consumer goods giant.