Nestlé has fired its CEO, Laurent Freixe, after just one year in the job.

An investigation into an undisclosed “romantic relationship”, ousting its second CEO in a year and throwing the Swiss food giant into its deepest leadership chaos in decades.
Freixe is replaced by Nespresso chief Philipp Navratil, a rising star at the world’s largest food company, as it battles slowing sales, the impact of U.S. tariffs, and eroding investor confidence after years of underperformance.
The Frenchman’s predecessor Mark Schneider failed to cope with the challenge, costing him his job in August 2024.
Freixe’s sudden dismissal follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestle’s (NESN.S), opens new tab code of business conduct, Nestle said late on Monday.
“The loss of two CEOs and a chairman in a year is of historic proportions for Nestle,” said Ingo Speich, head of Corporate Governance and Sustainability at Deka, a top-30 Nestle investor.
“The new CEO needs to fix the business model and bring volumes back. He needs to do better M&A and focus more on emerging markets.”