Overview

• Chief financial officer Anna Manz said staff flagged a possible relationship and favoritism in May through the Speak Up channel, prompting an initial probe that found no evidence as Freixe denied the claims.
• Persistent complaints led to a broader investigation overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla with independent counsel, with Swiss media reporting Baer & Karrer assisted.
• Freixe was dismissed with immediate effect and will receive no exit package, and the company has not identified the subordinate involved, citing privacy.
• Nespresso chief Philipp Navratil was appointed CEO effective immediately, with the board signaling no change to strategy and Manz saying he will engage investors ahead of third‑quarter results on October 16.
• The ouster marks a second CEO exit in a year and heightens investor scrutiny of leadership stability against soft sales, higher input costs and U.S. tariffs, as Bulcke is set to hand the chair to Pablo Isla in 2026.