Nestlé Board appoints Philipp Navratil as CEO following the departure of Laurent Freixe

Core Points - Nestlé's Board of Directors has appointed Philipp Navratil as the new CEO following the immediate dismissal of Laurent Freixe due to a breach of the company's Code of Business Conduct [2][3] - The investigation into Freixe's conduct was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with support from independent outside counsel [3] - Philipp Navratil has a long history with Nestlé, having joined in 2001 and held various leadership roles, including overseeing the coffee and beverage business in Mexico and leading the Nespresso division [4] Company Leadership Transition - The decision to dismiss Laurent Freixe was described as necessary to uphold Nestlé's values and governance [4] - Philipp Navratil is recognized for his impressive track record and collaborative management style, which the Board believes will drive growth and efficiency [4] - Navratil expressed his commitment to the company's strategic direction and action plan to enhance performance [5]