Nestlé CEO Laurent Freixe Removed Following Relationship wiht Subordinate
GENEVA – Nestlé’s Executive Director, Laurent Freixe, has been removed from his position after an inquiry revealed a breach of the company’s code of conduct related to a secret romantic relationship with a direct subordinate, Reuters reports.The investigation was overseen by Nestlé President Paul Bulcke and self-reliant counselor pablo Isla. Initial suspicions arose in the spring through an internal reporting channel, prompting an immediate but inconclusive investigation. A second investigation was launched despite Freixe’s denials.
“This was a necessary decision,” Bulcke stated. “Nestlé’s values and governance are solid pillars of our company. I thank Laurent for their years of service.”
The decision comes during a challenging period for Nestlé, with shares falling 17% in the last year. Philipp navratil, formerly head of the Nespresso Café Unit, has been appointed as the new CEO and will assume his duties immediately.
The situation echoes a recent scandal involving former Astronomer executive Andy Byron, whose extramarital relationship with an employee was publicly revealed.
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