Overview

• Philipp Navratil, a 24-year Nestlé veteran and former Nespresso leader, was appointed chief executive with immediate effect.
• The investigation was overseen by chairman Paul Bulcke and lead independent director Pablo Isla with support from external legal advisers after concerns were raised through the Speak Up channel.
• An initial inquiry was inconclusive before a deeper, board-supervised review confirmed the undisclosed relationship as a violation of company policy.
• Reuters was told Laurent Freixe will receive no severance, and reports say he initially denied the relationship; the employee involved has reportedly left her role.
• Nestlé shares fell as much as about 3% in early European trading following the announcement, and investors are scrutinizing succession and execution risks despite the pledge to keep strategy unchanged.