Crystal Charles
Swiss food giant Nestlé has appointed Philipp Navratil as its new chief executive after the sudden departure of Laurent Freixe, who held the role for less than a year.
The board confirmed that Freixe, a 39-year Nestlé veteran, was dismissed over a breach of corporate governance linked to a personal relationship with a subordinate.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” the company said in a statement.
Navratil, currently CEO of Nespresso, joined Nestlé in 2001 and has led major strategic initiatives across Nescafé and Starbucks products. He is tasked with steering the group through a challenging consumer environment, marked by falling sales in China and rising cocoa and coffee costs.
Nestlé’s financial results for the first half of 2025 showed a 10.3 percent drop in profits, adding to investor unease after the company’s shares plunged 25 percent in 2024.
Chairman Paul Bulcke stressed continuity in strategy despite the leadership change:
“We are confident Philipp will drive our growth plans forward and accelerate efficiency efforts. We are not changing course on strategy and we will not lose pace on performance.”
With its headquarters on Lake Geneva, Nestlé is home to brands including KitKat, Nespresso, Purina, Maggi, Gerber, and Nesquik.
Navratil pledged to maintain focus on the group’s value creation plan while boosting efficiency and innovation.