Nestlé Ousts CEO Laurent Freixe Over Undisclosed Workplace Romantic Relationship
Nestlé has dismissed its chief executive, Laurent Freixe, after he failed to disclose a romantic relationship with a direct subordinate, the Swiss food and beverage giant confirmed on Monday.
The company, known for products such as Kit Kat and Nespresso, said the decision took “immediate effect” following an internal probe overseen by chair Paul Bulcke and lead independent director Pablo Isla, with support from external legal counsel.
The investigation, triggered by a whistleblower report, determined the relationship posed a conflict of interest and breached Nestlé’s governance standards.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company,” Bulcke said in a statement, thanking Freixe for his nearly four decades of service.
Freixe, who took over as global CEO in September 2023, will not receive an exit package, Nestlé confirmed. His successor, Philipp Navratil – a company veteran since 2001 – has already been appointed.
While an earlier internal inquiry reportedly found no wrongdoing, a subsequent external investigation upheld the complaints. Nestlé said the handling of the case reflected its commitment to best-practice corporate governance.
The episode places Freixe alongside other high-profile executives who have left global corporations over undisclosed relationships. BP’s Bernard Looney resigned last year for failing to be transparent about workplace romances, while McDonald’s dismissed Steve Easterbrook in 2019 for breaching company policy.
Nestlé emphasized that its leadership change would not affect its current strategy or performance targets. Bulcke is due to step down as chair next year, with Isla – the former head of Inditex, owner of Zara – proposed as his replacement.
