"This was a necessary decision," Bulcke said in a statement Monday."
"Nestlé's values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé," said Bulcke of Freixe, who had spent 40 years with the company."
"Renowned for his dynamic presence, he inspires teams and leads with a collaborative, inclusive management style. The Board is confident that he will drive our growth plans forward and accelerate efficiency efforts."
Paul Bulcke and lead independent director Pablo Isla led an investigation that found a relationship breached Nestlé's code of business conduct. Independent outside counsel assisted the probe. Bulcke described the decision as necessary and thanked Laurent Freixe for 40 years of service. The board appointed Navratil as Nespresso CEO and praised his track record, collaborative management style, and ability to drive growth and accelerate efficiency. Navratil began at Nestlé as an internal auditor in 2001, served across Central America, became Country Manager for Honduras in 2009, led coffee and beverage in Mexico from 2013, strengthened the Nescafé brand, oversaw the coffee strategic business unit in 2020, joined the executive board in January, and assumed the Nespresso role in July 2024. Nestlé is addressing weaknesses in vitamins and supplements and is exploring a sale of its bottled water division, including Perrier and S.Pellegrino.
Read at Axios
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