In brief
In a surprising turn of events, Nestlé has fired its chief executive, Laurent Freixe, following revelations of a romantic relationship with an employee who is not part of the executive board. The dismissal comes after an investigation triggered by a whistleblowing report, emphasizing Nestlé's commitment to governance. Freixe, who had been with the company for nearly 40 years, only stepped into the CEO role a year ago. His departure raises questions about the company's ongoing strategy under new CEO Philipp Navratil.
Nestlé 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 Nestlé's chair and lead independent director.
The BBC understands the inquiry was triggered by a report made through the company's whistleblowing channel.
Nestlé chair Paul Bulcke stated, 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 Nestlé 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 added that the company was not changing course on strategy and we will not lose pace on performance.
