Swiss food giant Nestle abruptly dismissed CEO Laurent Freixe on Monday for failing to disclose a romantic relationship with a subordinate
exactly one year after he took charge The dramatic removal follows an investigation that found Freixe breached the company’s code of business conduct.
The maker of KitKat and Nesquik products appointed veteran insider Philipp Navratil, former head of the Nespresso coffee unit, as Freixe’s immediate successor The investigation was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla after concerns emerged through an internal hotline.
The shock departure threatens more volatility for Nestle amid challenging consumer conditions and disruptive US trade tariffs .
Freixe will not receive an exit package following his dismissal, marking another major management shake-up in the global food industry.
