
Core Points - Nestlé Group announced the appointment of Philipp Navratil as the new CEO, replacing Laurent Freixe, effective immediately [1][3] - Freixe's departure was due to an investigation revealing an undisclosed romantic relationship with a subordinate, violating Nestlé's Code of Business Conduct [3][4] - Freixe had been with Nestlé for over 40 years and served as CEO for just one year, focusing on leveraging existing business potential rather than acquisitions [3][4] Leadership Changes - The board of directors, led by Chairman Paul Bulcke and independent director Pablo Isla, oversaw the investigation and decision to terminate Freixe [3] - Navratil joined Nestlé in 2001 and has held various roles, including leading the coffee and beverage business in Mexico and overseeing Nespresso's growth [4][5] - Navratil expressed full support for the company's strategic direction and aims to accelerate value creation in collaboration with the leadership team [5] Strategic Focus - Under Freixe, Nestlé aimed for cost savings of at least 2.5 billion Swiss Francs by the end of 2027 and increased marketing investments to 9% of sales by 2025 [4] - The organizational structure was streamlined, merging the Greater China region back into the Asia, Oceania, and Africa zone to enhance efficiency [4][5] - The new CEO's experience in coffee business innovation is expected to bolster Nestlé's positioning in high-end coffee and digital channels in China [5]