Nestlé shake-up: Who is Laurent Freixe? CEO dismissed over 'undisclosed romantic relationship with subordinate'

Swiss food giant Nestlé has dismissed its chief executive Laurent Freixe with immediate effect after an internal investigation found he had an “undisclosed romantic relationship with a direct subordinate,” in violation of the company’s code of business conduct.

The move was confirmed by the group on Monday, with chairman Paul Bulcke stating, “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” as quoted by news agency AFP.

The board said the investigation was overseen by Bulcke and lead independent director Pablo Isla, with support from external counsel. Freixe’s departure comes less than a year after he was appointed CEO in September 2024, tasked with reviving the company’s performance amid sluggish consumer spending and a sharp fall in its share price.

Nestlé, which owns brands such as KitKat, Nespresso, Purina and Maggi, named Nespresso CEO Philipp Navratil as his successor.

Who is Laurent Freixe?

• Born in 1962, French national Laurent Freixe devoted nearly four decades to Nestlé.
• He joined the group in France in 1986, beginning in sales and marketing before moving into leadership roles across Europe.
• He became market head of Nestlé Hungary in 2003, later taking charge of Spain and Portugal in 2007.
• By 2008, he was appointed executive vice president and zone director for Europe, steering the region through the financial turbulence of the subprime and euro crises.
• In 2014, Freixe took over as executive vice president and CEO of Zone Americas, covering the US, Canada, Latin America and the Caribbean.
• Eight years later in 2022, he became CEO of Zone Latin America before being promoted to chief executive officer of Nestlé SA in 2024.
• Fluent in French, English, Spanish and German, Freixe combined global business experience with governance responsibilities. He served on the boards of Cereal Partners Worldwide and the Consumer Goods Forum, chaired the Global Alliance for YOUth, and was a member of the European Roundtable (ERT).
• He also held advisory positions with EDHEC Business School and the IMD Foundation Board.
• Educated at EDHEC Business School in Lille with executive training at IMD, Switzerland, Freixe was known for his long service and operational expertise across continents.
• His abrupt dismissal, however, ends a 40-year association with Nestlé on a controversial note.