Nestle fires CEO Laurent Freixe over relationship with subordinate
Nestle just fired CEO Laurent Freixe for having an undisclosed relationship with a subordinate, making him the second CEO to be let go in a little over a year.
The situation unraveled when a senior executive, said to be his mistress, reportedly caught Freixe in a Zurich hotel with the subordinate, leading to an anonymous complaint and an internal investigation.
Despite Freixe denying any wrongdoing, he was found guilty of breaking company rules.
Shareholders want chairman Paul Bulcke to step down early
After Freixe's exit, Philipp Navratil, who led Nespresso, stepped in as the new CEO.
But shareholders are still uneasy—they're now pushing for chairman Paul Bulcke to step down early instead of waiting until April 2026.
With Nestle's stock down about 40% since 2022 due to repeated scandals and slow sales, investors hope quicker leadership changes can help restore trust in the brand.