Vevey: Nestlé, the Swiss multinational food and beverage giant, has abruptly dismissed CEO Laurent Freixe following an internal investigation that revealed he failed to disclose a romantic relationship with a direct subordinate, breaching the company’s code of conduct. The probe, initiated after a report was filed through Nestlé’s whistleblowing channel, was led by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from external legal counsel. Freixe, a veteran of nearly 40 years with Nestlé, was removed with immediate effect and will not receive any exit package.

Nestlé appointed Philipp Navratil, previously head of the Nespresso business unit, as the new CEO, assuring stakeholders that the company’s strategy and performance plans remain unchanged. “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company,” Bulcke said, thanking Freixe for his long service.

This high-profile exit comes at a time when scrutiny of executive behaviour is intensifying across the corporate world. In recent months, multiple top leaders, including Andy Byron, CEO of Astronomer Inc., have lost their jobs over workplace relationships and ethics breaches. Byron resigned after being filmed embracing HR chief Kristin Cabot at a Coldplay concert, triggering a wave of viral discussion and renewed focus on transparency within executive ranks.

Freixe’s dismissal is the latest in a series of global boardroom shakeups, including recent removals at Unilever, Diageo, Hershey, and Kohl’s, all related to violations of company policy or failure to adequately disclose conflicts of interest. Analysts suggest such firings reflect a new era of corporate accountability, where companies move swiftly to protect reputation and enforce codes of ethics.

Nestlé, facing a challenging consumer market and uncertain trading conditions, looks to Navratil to bring stability and continued growth as it navigates the transition. The board also confirmed Chairman Bulcke will step down in 2026, marking further changes at the top for the world’s largest food company.