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Nestle romantic scandal: Swiss food giant Nestle on Monday said it dismissed its CEO, Laurent Freixe, after an investigation into an undisclosed relationship with a direct subordinate. The maker of Nescafe drinks and Purina pet food said in a statement that the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestle's code of conduct.

Who will be next Nestle's CEO?

Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a longtime Nestle executive. “This was a necessary decision,” said Chairman Paul Bulcke. “Nestlé's values and governance are strong foundations of our company.” The company didn't give any other details about the investigation.

Who is Laurent Freixe?

Freixe had been with Nestlé since 1986, holding roles around the world. When Nestle revamped its geographic structure in January 2022, Freixe became CEO of Zone Latin America. In August 2024, he was tapped to replace then-CEO Mark Schneider in the top role, and started September 1, 2024.

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Navratil started his career with Nestle in 2001 as an internal auditor and served in a variety of roles in Central America. In 2020, he joined Nestle's Coffee Strategic Business Unit, and in 2024, he became CEO of Nestle's Nespresso division.

How did Laurent Freixe's affair disclose?

A company spokesman told Reuters concerns about a possible relationship between Freixe and a direct report first emerged in the spring through an internal company hotline. The board of directors immediately opened an investigation into the matter, which was however inconclusive, this person added.

As the concerns persisted, the company launched a second probe, overseen by Bulcke and Isla and with the help of an external firm, which confirmed the relationship. Freixe had initially denied the relationship to the board, the spokesperson added. The ousted executive will not receive an exit package after his dismissal, Nestle told Reuters.

Nestles admin reshuffle

It's the latest in a string of personnel changes for the company. In June, Bulcke, a former CEO who has been chairman of the board since 2017, said he wouldn't stand for reelection in 2026. And in April, Steve Presley, an executive vice president and CEO of Zone Americas, said he was retiring after almost 30 years of service.

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Based in Vevey, Switzerland, Nestlé has been facing headwinds like other food makers, including rising commodity costs and the negative impact of tariffs. It said in July it offset higher coffee and cocoa-related costs with price increases.

(With inputs from agencies)