Nestlé Fires CEO Over Undisclosed Office Affair, Names New Boss

Nestlé on Monday dismissed its Chief Executive with immediate effect after an investigation found he engaged in an undisclosed romantic relationship with a direct subordinate, breaching the company’s code of conduct.

The board appointed Nespresso chief Philipp Navratil as his successor following the probe, which was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla with the support of external counsel.

“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank him for his years of service,” Bulcke said in a statement.

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The ousted executive, who joined Nestlé in 1986, previously led its European and Latin American divisions before taking over as CEO in September 2024. He was tasked with reviving weak consumer spending on the company’s food and household brands, including KitKat, Maggi, Purina, and Nespresso.

Nestlé shares, which slumped nearly 25% in 2024, closed 0.13% higher at 75.49 Swiss francs on Monday.