Posted on 09/01/2025 11:50:10 AM PDT by DFG
The world's biggest food and drink company has ousted its second CEO in just over a year.
On Monday, Nestlé dismissed its CEO, Laurent Freixe, following an investigation into a breach of its code of conduct.
Freixe's dismissal comes as the company — which sells Gerber baby food, Purina pet meals, Nescafé coffee pods, and KitKat sweets — has lagged competitors in sales growth.
The company's Chairman, Paul Bulcke, and Lead Independent Director, Pablo Isla, led the investigation. Their findings allege Freixe entered into an undisclosed romantic relationship with a direct subordinate, which breached the company's code of business conduct.
'This was a necessary decision,' said Bulcke in a statement. 'Nestlé's values and governance are strong foundations of our company. I thank Laurent for his years of service.'
Company veteran Freixe took over the CEO role in September last year after Nestlé ousted his predecessor Mark Schneider.
Nestlé has held the title of the world's largest food and beverage company by sales for the past decade.
In the US, Nestle dominates grocery aisles with its grab-and-go products in the coffee, pet, baby, and candy aisles.
The Swiss giant employs hundreds of thousands globally and generated over $101.5 billion in sales in 2024, outpacing Pepsi's $91 billion.
Phil Navratil, who began his career with Nestlé in 2001 as an internal auditor, will take over as the top boss.
After holding various commercial roles in Central America, he was appointed country manager for Nestlé Honduras in 2009.
He assumed leadership of the coffee and beverage business in Mexico in 2013 and transitioned to Nestlé's Coffee strategic business unit in 2020.
He moved to Nespresso in July 2024, and joined the Nestlé executive board on January 1 this year.
(Excerpt) Read more at dailymail.co.uk ...
Was a Coldplay concert involved?
If you are an exec of any company, just don’t fish in your pond.
He belonged over at Hershey’s Kisses anyway.
Specifically at General Dynamics I’d say top level executives could have gotten away with anything that didn’t leave a dead body in their office. It was rules for thee and not for me. A black floor worker could accuse any white of racism and the white was gone. No investigation. Just walked out. But when they tried the same game with executives, even if it was actually true, nope. Nada.
One plant manager parodically sent emails demanding we do stuff that was illegal or unethical. You could hear the printer spool up when this happened. Finally, they bought him out at huge expense because they couldn’t stop him from putting things in writing that would send GD employee so prison. It was hugely expensive. Anyone else would have been fired.
Laurent should sue. No cause.
That Nestle Quikie will cost you.
No mention of romance in the article and no pic of his paramour. At least we need to know if it was worth it.
Very good. 👍
Headline: Nestle chairman steps down following concerns over company’s direction, investors say.
His apparent direction had a lot of ups and downs.
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