Zurich, Switzerland Sep 3, 2025 (Issuewire.com) - Swiss giant Nestle is best known for offering a wide range of sweet products that range from Nesquik to KitKat, a favorite of everyone. This food company has taken a strict step with the abrupt removal of CEO Laurent Freixe, who failed to offer transparency on his romantic relationship with his direct subordinate. The news came out on Monday, and this removal dramatically happened after one year of Freixe’s reign in the company. Nestlé has now appointed insider Philipp Navratil, who is a veteran in the business and previously handled the Nespresso coffee unit. The departure of Freixe is creating a shock factor in the volatile moment of disruptive US trade tariffs, which is disrupting the consumer environment.
Laurent Freixe’s undisclosed relationship with his direct subordinate is a breach of the company’s code of business conduct, and the investigation into the situation is handled by Chairman Paul Bulcke, along with Lead Independent Director Pablo Isla. Paul Bulcke said, “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” and made it clear by saying, “This was a necessary decision.” The long-standing chairman Buckle might also stand down next year, according to company announcements.
Freixe initially denied the claims of having a relationship, but the investigation confirmed the relationship. The company also said that the executive will not receive an exit package after this dismissal. This abrupt removal of the CEO happened exactly a year after its predecessor, Mark Schneider, and now, it is questions about the company's overall health. Nestle’s shares have fallen around 17% in the market, and it is having a hard time among the array of competitors. Philipp Navratil is currently the only reliable person in the company who started his career at Nestle in 2001 and became a member of the Nestle executive board in January this year.
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