Overview

• The dismissal took immediate effect as the board stressed enforcement of governance standards and thanked Freixe for his long service.
• Philipp Navratil, the Nespresso chief and a longtime Nestlé executive, was appointed CEO and affirmed continuity of the company’s strategy.
• The inquiry began with a whistleblower report, an internal review proved inconclusive, and outside investigators then verified the undisclosed relationship.
• Nestlé said Freixe will not receive an exit package after roughly one year as CEO following a nearly four-decade career at the company.
• The leadership change follows another recent CEO transition and comes during business pressures including slower growth, higher input costs and heightened investor focus on stability, with a chair handover ahead.