Nestle sacks CEO Laurent Freixe over ‘romantic relationship’ in office
Nespresso CEO Philipp Navratil was swiftly named successor as the board launched a probe led by chairman Bulcke and director Isla with legal support.
Swiss food giant Nestle announced Monday it had dismissed Laurent Freixe as chief executive with immediate effect over an "undisclosed romantic relationship with a direct subordinate".
The multinational behind Nespresso coffee capsules and KitKat chocolate bars said Freixe's dismissal followed an investigation.
In a swift move, Nespressveo CEO Philipp Navratil was appointed to take over by his fellow board members.
"The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestle's code of business conduct," a statement said.
The board said it had ordered an investigation overseen by chairman Paul Bulcke and lead independent director Pablo Isla, with the support of outside counsel.
"This was a necessary decision. Nestle's values and governance are strong foundations of our company. I thank Laurent for his years of service," Bulcke said in a statement.
