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URLhttps://www.latimes.com/business/story/2025-09-02/nestle-ceo-fired-over-affair
Last Crawled2026-04-18 03:42:13 (5 days ago)
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Meta TitleNestlé picks insider to replace CEO fired over affair - Los Angeles Times
Meta DescriptionNestlĂ© is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year.
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NestlĂ© is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year. Philipp Navratil is taking over as chief executive at the Swiss company, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. The female employee no longer works at Nestle, according to a person familiar with the situation who asked not to be named, discussing confidential matters. It’s unprecedented turmoil for a company that has been renowned for its internal succession planning and staid corporate culture. Freixe’s ouster “has left us shocked,” RBC analysts, including James Edwardes Jones, said in a note. “We thought of him as a NestlĂ© lifer who would restore the company’s reputation of slightly boring predictability. How wrong we were.” The quick reshuffle raises the question of why NestlĂ© immediately appointed a permanent internal CEO, “instead of taking time to conduct a full assessment of internal and external candidates,” Jefferies analysts said. Now investors’ eyes are on Navratil, a company veteran of more than 20 years who at the age of 49 could conceivably run the maker of KitKat chocolate bars for a decade or more. He joined NestlĂ© in 2001 and has spent much of his career in Central America, including Mexico, with a focus on the coffee business. He later ran the group’s global coffee unit, overseeing the NescafĂ© brand and the license agreement with Starbucks Corp. that analysts see as one of Nestlé’s most promising businesses. He became CEO of Nespresso, the maker of coffee machines and single-use capsules, in July 2024. Navratil’s appointment, along with Nestlé’s change of chairman next year, is “the real generational step that should probably have happened 12 months earlier,” Baader analyst Andreas von Arx said in a note. Even so, the Swiss and Austrian national faces skepticism about whether he can reboot a company whose shares have slumped over 40% since their early 2022 peak. The slide, which began under Schneider, had been Freixe’s job to reverse. But the ex-CEO’s efforts came to an abrupt end after an investigation found Freixe had violated Nestlé’s code of conduct, according to a release late Monday. He will not receive an exit package, a spokesperson said. The matter was first brought to company officials’ attention through an internal system called “speak up,” according to a person familiar with the situation who asked not to named. After the allegations couldn’t be substantiated via an initial probe, further concerns were raised via the internal system and an investigation with external counsel was launched, the person said. Commenting on his new role, Navratil said he will “fully embrace the company’s strategic direction” — a clear signal he’ll continue Freixe’s strategy of boosting spending on advertising, betting on fewer but bigger product initiatives and getting rid of underperforming units. He inherits ongoing restructuring, including the potential sale of struggling vitamin brands, and finding a potential partner for Nestlé’s bottled water business, which Freixe separated into a standalone unit. “We are disappointed that the CEO is boxed in for now to follow his predecessor’s strategy at a time where the market is doubting the outcome,” JPMorgan analyst Celine Pannuti said in a note. Some of Nestlé’s challenges are beyond its direct control. While Freixe often noted about 90% of its U.S.-sold products are made domestically and are therefore outside the scope of President Trump’s tariffs, a key exception is Nespresso’s Swiss-made coffee capsules. They now face a 39% levy. It’s a business Navratil knows well, at least. Wind writes for Bloomberg. More to Read
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Focus mode Show Search Advertisement [Business](https://www.latimes.com/business) # NestlĂ© picks insider to replace CEO fired over affair ![Containers of Nestle hot chocolate mix ](https://ca-times.brightspotcdn.com/dims4/default/788d4bd/2147483647/strip/true/crop/3000x1828+0+0/resize/1200x731!/quality/75/?url=https%3A%2F%2Fcalifornia-times-brightspot.s3.amazonaws.com%2F28%2F3f%2F5f7610b34863b69d4446b62cc3ec%2Fhttps-delivery-gettyimages.com%2Fdownloads%2F56922651) Philipp Navratil is taking over as chief executive at NestlĂ©, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. Above, containers of Nestle hot chocolate mix on a store shelf. (Justin Sullivan / Getty Images) By Sonja Wind Sept. 2, 2025 10:37 AM PT - Share via Close extra sharing options - [Email](mailto:?body=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair%0A%0Ahttps%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair%0A%0ANestl%C3%A9%20is%20turning%20to%20the%20executive%20who%20runs%20its%20Nespresso%20coffee%20empire%20to%20try%20and%20steady%20the%20world%E2%80%99s%20largest%20food%20business%20after%20it%20was%20rocked%20by%20the%20second%20CEO%20firing%20in%20a%20little%20over%20a%20year.) - [Facebook](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair) - [X](https://x.com/intent/tweet?url=https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair&text=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair) - [LinkedIn](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair&title=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair&summary=Nestl%C3%A9%20is%20turning%20to%20the%20executive%20who%20runs%20its%20Nespresso%20coffee%20empire%20to%20try%20and%20steady%20the%20world%E2%80%99s%20largest%20food%20business%20after%20it%20was%20rocked%20by%20the%20second%20CEO%20firing%20in%20a%20little%20over%20a%20year.&source=Los%20Angeles%20Times) - [Threads](https://threads.net/intent/post?text=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair%20https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair) - [Reddit](https://www.reddit.com/submit?url=https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair&title=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair) - [WhatsApp](https://api.whatsapp.com/send?text=Nestl%C3%A9%20picks%20insider%20to%20replace%20CEO%20fired%C2%A0over%20affair%20https%3A%2F%2Fwww.latimes.com%2Fbusiness%2Fstory%2F2025-09-02%2Fnestle-ceo-fired-over-affair) - Copy Link URL Copied\! - Print NestlĂ© is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year. Philipp Navratil is taking over as chief executive at the Swiss company, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. The female employee no longer works at Nestle, according to a person familiar with the situation who asked not to be named, discussing confidential matters. It’s unprecedented turmoil for a company that has been renowned for its internal succession planning and staid corporate culture. Advertisement Freixe’s ouster “has left us shocked,” RBC analysts, including James Edwardes Jones, said in a note. “We thought of him as a NestlĂ© lifer who would restore the company’s reputation of slightly boring predictability. How wrong we were.” The quick reshuffle raises the question of why NestlĂ© immediately appointed a permanent internal CEO, “instead of taking time to conduct a full assessment of internal and external candidates,” Jefferies analysts said. Now investors’ eyes are on Navratil, a company veteran of more than 20 years who at the age of 49 could conceivably run the maker of KitKat chocolate bars for a decade or more. He joined NestlĂ© in 2001 and has spent much of his career in Central America, including Mexico, with a focus on the coffee business. Advertisement He later ran the group’s global coffee unit, overseeing the NescafĂ© brand and the license agreement with Starbucks Corp. that analysts see as one of Nestlé’s most promising businesses. He became CEO of Nespresso, the maker of coffee machines and single-use capsules, in July 2024. Navratil’s appointment, along with Nestlé’s change of chairman next year, is “the real generational step that should probably have happened 12 months earlier,” Baader analyst Andreas von Arx said in a note. Even so, the Swiss and Austrian national faces skepticism about whether he can reboot a company whose shares have slumped over 40% since their early 2022 peak. The slide, which began under Schneider, had been Freixe’s job to reverse. But the ex-CEO’s efforts came to an abrupt end after an investigation found Freixe had violated Nestlé’s code of conduct, according to a release late Monday. He will not receive an exit package, a spokesperson said. The matter was first brought to company officials’ attention through an internal system called “speak up,” according to a person familiar with the situation who asked not to named. After the allegations couldn’t be substantiated via an initial probe, further concerns were raised via the internal system and an investigation with external counsel was launched, the person said. Commenting on his new role, Navratil said he will “fully embrace the company’s strategic direction” — a clear signal he’ll continue Freixe’s strategy of boosting spending on advertising, betting on fewer but bigger product initiatives and getting rid of underperforming units. Advertisement He inherits ongoing restructuring, including the potential sale of struggling vitamin brands, and finding a potential partner for Nestlé’s bottled water business, which Freixe separated into a standalone unit. “We are disappointed that the CEO is boxed in for now to follow his predecessor’s strategy at a time where the market is doubting the outcome,” JPMorgan analyst Celine Pannuti said in a note. Some of Nestlé’s challenges are beyond its direct control. While Freixe often noted about 90% of its U.S.-sold products are made domestically and are therefore outside the scope of President Trump’s tariffs, a key exception is Nespresso’s Swiss-made coffee capsules. They now face a 39% levy. It’s a business Navratil knows well, at least. *Wind writes for Bloomberg.* ### More to Read - [![FILE - Exterior of the Kroger grocery store in Novi, Mich., is seen Saturday, Jan. 23, 2021. Two of the nation's largest grocers are planning to merge. 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Readable Markdown
NestlĂ© is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year. Philipp Navratil is taking over as chief executive at the Swiss company, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. The female employee no longer works at Nestle, according to a person familiar with the situation who asked not to be named, discussing confidential matters. It’s unprecedented turmoil for a company that has been renowned for its internal succession planning and staid corporate culture. Freixe’s ouster “has left us shocked,” RBC analysts, including James Edwardes Jones, said in a note. “We thought of him as a NestlĂ© lifer who would restore the company’s reputation of slightly boring predictability. How wrong we were.” The quick reshuffle raises the question of why NestlĂ© immediately appointed a permanent internal CEO, “instead of taking time to conduct a full assessment of internal and external candidates,” Jefferies analysts said. Now investors’ eyes are on Navratil, a company veteran of more than 20 years who at the age of 49 could conceivably run the maker of KitKat chocolate bars for a decade or more. He joined NestlĂ© in 2001 and has spent much of his career in Central America, including Mexico, with a focus on the coffee business. He later ran the group’s global coffee unit, overseeing the NescafĂ© brand and the license agreement with Starbucks Corp. that analysts see as one of Nestlé’s most promising businesses. He became CEO of Nespresso, the maker of coffee machines and single-use capsules, in July 2024. Navratil’s appointment, along with Nestlé’s change of chairman next year, is “the real generational step that should probably have happened 12 months earlier,” Baader analyst Andreas von Arx said in a note. Even so, the Swiss and Austrian national faces skepticism about whether he can reboot a company whose shares have slumped over 40% since their early 2022 peak. The slide, which began under Schneider, had been Freixe’s job to reverse. But the ex-CEO’s efforts came to an abrupt end after an investigation found Freixe had violated Nestlé’s code of conduct, according to a release late Monday. He will not receive an exit package, a spokesperson said. The matter was first brought to company officials’ attention through an internal system called “speak up,” according to a person familiar with the situation who asked not to named. After the allegations couldn’t be substantiated via an initial probe, further concerns were raised via the internal system and an investigation with external counsel was launched, the person said. Commenting on his new role, Navratil said he will “fully embrace the company’s strategic direction” — a clear signal he’ll continue Freixe’s strategy of boosting spending on advertising, betting on fewer but bigger product initiatives and getting rid of underperforming units. He inherits ongoing restructuring, including the potential sale of struggling vitamin brands, and finding a potential partner for Nestlé’s bottled water business, which Freixe separated into a standalone unit. “We are disappointed that the CEO is boxed in for now to follow his predecessor’s strategy at a time where the market is doubting the outcome,” JPMorgan analyst Celine Pannuti said in a note. Some of Nestlé’s challenges are beyond its direct control. While Freixe often noted about 90% of its U.S.-sold products are made domestically and are therefore outside the scope of President Trump’s tariffs, a key exception is Nespresso’s Swiss-made coffee capsules. They now face a 39% levy. It’s a business Navratil knows well, at least. *Wind writes for Bloomberg.* More to Read
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Publish Time2025-09-02 17:37:05 (7 months ago)
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