Overview

• Nestlé dismissed Laurent Freixe with immediate effect and named Philipp Navratil as chief executive.
• The board-ordered probe was supervised by chair Paul Bulcke and lead independent director Pablo Isla with support from independent external counsel.
• Nestlé shares fell about 1.8% in early trading Tuesday following the announcement, weighing on the Swiss market index.
• Freixe had been CEO since September 2024, making the abrupt change another sign of leadership instability at the food group.
• The shake-up comes as the company reports a roughly 10.3% first-half net profit drop and reviews businesses including bottled-water operations, with analysts warning of uncertainty but noting Navratil could offer continuity.