In brief
Nestlé has made the decision to fire Laurent Freixe, its CEO, after he failed to disclose a romantic relationship with an employee. The company stated that the dismissal followed an investigation prompted by a whistleblower report that identified a conflict of interest. Freixe, who was appointed to the position just a year ago, has been part of the Nestlé team for four decades. Philipp Navratil has been named as his successor, with Nestlé affirming that it will maintain its strategic direction and performance.
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'.
