Nestlé S.A., based in Switzerland, has appointed a new CEO after its former leader was ousted over an inappropriate workplace relationship less than a year into the role.
The company said Laurent Freixe was removed following an investigation into a romantic relationship with a direct subordinate that violated Nestlé’s Code of Business Conduct. Freixe is leaving the company without an exit package.
Chairman Paul Bulcke and Lead Independent Director Pablo Isla oversaw the investigation.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company,” Bulcke said. “I thank Laurent for his years of service at Nestlé.”
In the same statement, Bulcke said Philipp Navratil would take over as CEO.
“Philipp is recognized for his impressive track record of achieving results in challenging environments,” Bulcke said. “Renowned for his dynamic presence, he inspires teams and leads with a collaborative, inclusive management style.
“The Board is confident that he will drive our growth plans forward and accelerate efficiency efforts,” he added. “We are not changing course on strategy, and we will not lose pace on performance.”