Overview

• Freixe was dismissed with immediate effect after investigators confirmed an undeclared relationship with a direct subordinate in violation of the company’s Code of Business Conduct.
• The review was led by the board and supervised by Paul Bulcke and lead independent director Pablo Isla, with input from external legal advisers.
• Philipp Navratil, a long‑time executive who led Nespresso and joined the executive committee in January, was appointed CEO to preserve continuity.
• Bulcke described the action as a necessary decision to protect values and governance, and the company indicated its strategy remains in place with a focus on faster execution.
• Nestlé shares fell as much as about 3.2% in early European trading on Tuesday after the leadership change.