• Laurent Frexie (left) Philipp Navratil (right)
Following the exit of Laurent Freixe , Nestlé’ board has announced Philipp Navratil, former CEO of Nespresso, as the new chief executive officer.
The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestle’s code of business conduct.
In a statement issued on Monday, the company’s Chairman Paul Bulcke said that the board is confident Navratil will drive Nestlé growth plans forward and accelerate efficiency efforts.
“We are not changing course on strategy, and we will not lose pace on performance, ”Bulcke stated.
Navratil, who began his Nestlé career in 2001, previously led operations in Central America and Mexico before heading global strategy and innovation for Nescafé and Starbucks brands.
He pledged to continue the company’s strategic direction and action plan.
The leadership shape-up comes at a challenging time for the multinational, which recently reported a 10.3 percent drop in half-year profits amid weak consumer spending in China and higher input costs.
Meanwhile, Freixe, who joined Nestlé in 1986, had served in various senior roles across Europe and Latin America before being appointed CEO in September 2024.
Bulcke said that the decision to sack Frexie was necessary to uphold Nestle values and governance principles..
He thanked Freixe for his decades of service.