Summary
Nestlé fired CEO Laurent Freixe due to a rule-breaking relationship with a subordinate. Philipp Navratil, previously heading Nespresso, is now the new CEO. This comes as Nestlé faces challenges in certain business areas.
Key Facts
- Nestlé dismissed CEO Laurent Freixe for a relationship that breached company rules.
- Philipp Navratil, the former head of Nespresso, has taken over as CEO.
- Laurent Freixe had been with Nestlé for 40 years before this incident.
- An investigation led by company chair Paul Bulcke looked into the relationship.
- Nestlé is currently facing issues in its vitamins and supplements segment and plans to sell its bottled water division.
- Navratil has been with Nestlé since 2001, holding various roles in Central America and Mexico.
- He was influential in strengthening Nestlé's Nescafé coffee brand.
- Navratil joined the Nestlé executive board in January.
