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.
Add Comment