"Nestlé says it has dismissed its chief executive, Laurent Freixe, after uncovering that he failed to disclose a romantic relationship with a direct subordinate in a violation of corporate policy. Freixe will be succeeded by Philipp Navratil, who was previously chief executive of Nestlé Nespresso."
"Freixe, a four-decade fixture of the Swiss food and beverage giant, was tapped for the role 14 months ago to revive growth after a period of sluggish performance under his predecessor, Mark Schneider."
"Business Insider has reached out to Freixe for comment. This story is developing and will be updated."
Nestlé dismissed chief executive Laurent Freixe after finding he failed to disclose a romantic relationship with a direct subordinate, in breach of corporate policy. Philipp Navratil, formerly chief executive of Nestlé Nespresso, will succeed Freixe as CEO. Freixe had served at the company for around four decades and was appointed CEO 14 months ago to revive growth following sluggish performance under predecessor Mark Schneider. Business Insider has reached out to Freixe for comment. The situation remains active and updates will be provided as new information becomes available.
Read at Business Insider
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