Swiss food giant Nestlé has dismissed its CEO, Laurent Freixe, with immediate effect. The sack follows an investigation into a previously undisclosed relationship with a female employee who reported directly to him.
The board of directors saw Freixe’s behaviour as a violation of the Nestlé code of conduct and internal guidelines, the company announced on Monday evening. The board appointed Nespresso boss Philipp Navratil as the new CEO. Navratil has been with Nestlé for 24 years, reports Swissinfo.ch.
The investigation into Freixe’s conduct was done under the supervision of the outgoing board chair Paul Bulcke and the designated new chair, Pablo Isla.
Bulcke was quoted in a statement as saying that the decision was necessary: “Nestlé’s values and governance form the solid foundation of our company.” At the same time, he thanked Freixe for his many years of service.
Translated from German with DeepL/gw
