Nestlé CEO sacked for affair with marketing subordinate
Nestlé has announced the immediate departure of CEO Laurent Freixe after an internal investigation found he had breached the company’s Code of Business Conduct. The probe centred on an undisclosed romantic relationship with a direct report working in Nestlé’s marketing team.
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The investigation, ordered by the Board of Directors and overseen by chairman Paul Bulcke and lead independent director Pablo Isla with support from external counsel, concluded that Freixe’s conduct violated governance standards.
Philipp Navratil has been appointed as the new CEO of Nestlé with immediate effect.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company,” said Bulcke. “I thank Laurent for his years of service at Nestlé.”