Nestle CEO Dismissed Over Relationship

GENEVA: The Swiss-based food conglomerate, Nestle, declared on Monday the immediate termination of Laurent Freixe as chief executive officer. This decision was prompted by a “private intimate affair with a subordinate employee,” which was not disclosed.

The multinational corporation, renowned for producing Nespresso coffee and KitKat chocolate, stated that Freixe’s dismissal was the result of a thorough inquiry.

In a rapid succession, Philipp Navratil, the current CEO of Nespresso, has been designated by the board to assume the role.

“Laurent Freixe’s departure is subsequent to an investigation regarding a private relationship that was not disclosed, violating Nestle’s code of business conduct,” the firm stated. The board affirmed it mandated an investigation led by Chairman Paul Bulcke and lead independent director Pablo Isla, supported by external legal counsel.

“This action was deemed necessary. Nestle’s principles and governance are fundamental to our organization. I extend my gratitude to Laurent for his years of dedication,” Bulcke expressed in a released statement.