Overview

• An external board-ordered probe overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with independent outside counsel, confirmed the violation.
• The investigation was opened after anonymous reports through Nestlé’s Speak Up channel, following an inconclusive initial internal review.
• Freixe, who became CEO in September 2024 after nearly four decades at the company, was dismissed with immediate effect and will not receive an exit package.
• Nespresso chief Philipp Navratil, a longtime executive who joined the executive board in January, takes over as CEO with the board signaling no change in strategy.
• Nestlé did not identify the subordinate involved, and the leadership shift comes as the company faces slowing sales, higher input costs and exposure to U.S. tariffs.