Nestle S.A. (OTC:NSRGF, VTX:NESN) has dismissed chief executive Laurent Freixe with immediate effect following an internal investigation into an undisclosed romantic relationship with a subordinate, which the company said breached its code of conduct.
Freixe had been in the role since September 2024 and had worked at Nestlé since 1986.
He will be replaced by Philipp Navratil, a veteran of the company who previously led its Nespresso division.
Nestlé chairman Paul Bulcke described the decision as necessary to uphold the company’s values and governance standards.
The food group, known for brands like Nescafé and Purina, gave no further details about the investigation.
The leadership change is the latest in a series of executive departures at the Swiss company in recent months.