Nestlé Board Dismisses CEO Laurent Freixe Over Corporate Ethics Breach

In an official statement, Nestlé indicated that the resignation was a necessary measure to uphold corporate values and governance standards.

"This was a necessary decision. The values and governance system of Nestlé are a solid foundation of our company. I thank Laurent for his years of service at Nestlé," said Chairman of the Board Paul Bulcke.

The board appointed Philippe Navratil, formerly Vice President and Head of Coffee Brands Development for Nescafé and Nespresso, as the new CEO.

Laurent Freixe had led the company since August 2024. His departure marks the most notable personnel change in the European food industry recently.

Nestlé is the world's largest corporation in the food and beverage sector, founded in 1866. The company operates more than 300 factories in 83 countries, with over 270,000 employees.

The CEO's resignation coincided with a period of increased scrutiny of Nestlé in Europe: earlier, the French Senate accused authorities of hiding data on bacteria found in the company's factories.