Nestlé, the world’s largest food company, is facing one of the most tumultuous leadership crises in its history. The abrupt dismissal of CEO Laurent Freixe (2 September 2025) - after just one year at the helm - has raised urgent questions about corporate governance, strategic continuity, and investor confidence at the Swiss-headquartered multinational.
This is the third top level exceutive change in just over twelve months, (Schneider → Freixe → Navratil) compounding concerns about leadership instability at a time when Nestlé is grappling with falling sales, surging input costs, and reputational controversies.
"The loss of two CEOs and a chairman in a year is of historic proportions for Nestlé," said Ingo Speich, head of Corporate Governance and Sustainability at Deka, a major Nestlé investor.
The Rise and Fall of Laurent Freixe
Four decades at Nestlé:
Freixe joined Nestlé in 1986, rising steadily through sales, marketing, and regional leadership roles. By 2022, he was CEO of Nestlé Latin America, delivering strong growth despite economic volatility in key markets. In September 2024, following the ousting of Mark Schneider, Freixe was promoted to global CEO with a mandate to revive sluggish consumer demand and reassure investors.
At the time of his promotion, he said: “I am privileged to have been given the opportunity to continue building and strengthening Nestlé, and I am excited to take on this responsibility.
“There will always be challenges, but we have unparalleled strengths, such as iconic brands and products, an unmatched global presence, leading innovation and execution capabilities, and above all, exceptional people and teams.”
That mission ended abruptly earlier this week, when Nestlé’s board, led by chair Paul Bulcke and lead independent director Pablo Isla, announced his immediate dismissal for failing to disclose a 'romantic relationship with a subordinate' - a clear breach of Nestlé’s Code of Business Conduct.
Notably, Freixe received no severance package, signalling a hard line from the board. Freixe has yet to comment publicly on the matter.