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Nestle names new CEO after Laurent Freixe's dismissal
Nestle just named Philipp Navratil as its new CEO after letting go of Laurent Freixe for breaking the company's code of conduct.
Freixe was dismissed over an undisclosed romantic relationship with a subordinate, adding to leadership shake-ups.
Now, Navratil—who's been with Nestle for years—steps in at a time when the company is dealing with falling share prices and slow sales.
Nestlé's challenges and investor concerns
Nestle has been hit by weaker global demand and economic slowdown, especially hurting its Nespresso brand.
The company's stock has dropped nearly a third over the past five years, and analysts are calling for Navratil to act fast to steady things and win back investor trust.