In brief
Nestlé has fired its CEO, Laurent Freixe, due to his undisclosed romantic relationship with a direct subordinate. The decision came after an investigation triggered by a whistleblower report. Freixe, who had been with the company for nearly 40 years and had just taken on the CEO role last September, was dismissed with immediate effect. He is succeeded by Philipp Navratil as the company reassures stakeholders of its strategic continuity.
Nestle has fired its chief executive after just one year in the job because he failed to disclose a romantic relationship with a direct subordinate.
The Swiss food giant, which makes Kit Kat chocolate bars and Nespresso coffee capsules, said Laurent Freixe has been dismissed with immediate effect following an investigation led by Nestle's chair and lead independent director.
The BBC understands the inquiry was triggered by a report made through the company's whistleblowing channel.
Nestle chair Paul Bulcke, said: This was a necessary decision. Nestlé's values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé.
The relationship was with an employee who is not on the executive board and the investigation began because it represented a conflict of interest, the BBC has learned.
Mr Freixe had been with Nestle for nearly 40 years but stepped up to the global chief executive role last September, replacing Mark Schneider.
Philipp Navratil has been appointed as Mr Freixe's successor.
Mr Bulcke said the company was not changing course on strategy and we will not lose pace on performance.
