Nestlé fired CEO Laurent Freixe after a year — he hid a relationship with a subordinate

On September 1, 2025, Nestlé fired CEO Laurent Freixe after an investigation found he had an undisclosed romantic relationship with a direct subordinate. Staff had raised concerns via the internal hotline. Freixe initially denied the relationship to the board. When concerns persisted, Chairman Paul Bulcke and Lead Independent Director Pablo Isla oversaw an investigation with independent outside counsel, which confirmed the relationship.

Freixe had been CEO for just one year, succeeding Mark Schneider who was axed for underperformance. The company's shares had lost a third of their value over five years, and Freixe's tenure saw a further 17% decline. The dismissal came two-and-a-half months after Bulcke announced he would step down in 2026, meaning Nestlé lost two CEOs and a chairman in a single year.

Freixe, a 39-year Nestlé veteran, received no exit package. He was replaced by Nespresso chief Philipp Navratil. Analysts said the news left questions about Nestlé's mid-term direction unanswered. JPMorgan warned the second CEO change in a year would 'keep a lid on the equity story.' Shares fell 1% on the day.