Nestléthe largest world food and beverage group, with immediate effect to its executive director, Laurent Freixe, after an internal investigation that concluded that it maintained an unveiled relationship with a direct subordinate, in violation of the company’s code of conduct. The Swiss multinational designated Philipp Navrathil as a new CEO, who until now led Nespresso, the coffee brand in capsules of the Nestlé group.
Freixe had assumed the position in August 2024, after almost four decades in the company, and its departure occurs in a difficult year for Nestlé, which faces a slowdown in its main businesses and regulatory questions in different countries. The president of the Board of Directors, Paul Bulcke, said that it was a “necessary” decision to safeguard the values and governance of the company, and thanked the French Executive Service.
The internal investigation began at the end of the past spring, after several reports arrived through the company’s complaints platform, called Speak Up. Although initially Nestlé considered that the accusations were unfounded, the complaints persisted and the board commissioned a new investigation to external advisors, who confirmed the accusations.
The group, with a market value close to 191,000 million Swiss francs and owner of global brands such as Kit and Nescafé Kit, also faces research in Europe. In July, French authorities raided their offices for the alleged use of filtration methods not authorized in bottled mineral water. To this is added the withdrawal of frozen foods in the United States during this year due to pollution problems.
In Peru, Nestlé is present with a broad portfolio that includes iconic brands such as Sublime, D’Onofrio, Savory, Nestlé Professional, Ideal, Nesquik and Purina, consolidating itself as one of the most relevant actors in the food, dairy industry, confectionery and nutrition.
Navrathil, Freixe successor, began his career in Nestlé in 2001 as an internal auditor and has led different units in Latin America and in the global coffee business, until Nespresso directs. This year he joined the group Executive Committee.
The change in senior management occurs in a delicate moment for the multinational. Nestlé’s shares have retreated more than 40% since 2022, and in June Bulcke announced his departure from the presidency of the Board of Directors, proposing the exexecutive of Inditex, Pablo Isla, as his successor.
The analyst Jean-Philippe Bertschy, from the Swiss Vontobel bank, told Financial Times that Navrathil’s arrival is a positive signal for investors.
“Nestlé was already under the reflectors … The appointment of Philipp Navrathil, a leader with a proven trajectory, is encouraging, at a time when the patience of the markets has been tested for months,” he said.
Freixe did not respond immediately to comments requests, according to the British newspaper.
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