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Nestle has dismissed its global chief executive, Laurent Freixe, after just one year in the role for failing to disclose a romantic relationship with a direct subordinate.
The Swiss food giant said the decision, taken with immediate effect, followed an external investigation overseen by chair Paul Bulcke and independent director Pablo Isla.
The inquiry began after a whistleblowing report highlighted a conflict of interest.
Mr. Freixe, who had been with Nestle for nearly 40 years, will not receive an exit package.
He was appointed CEO in September 2024, replacing Mark Schneider.
Philipp Navratil, a company veteran since 2001, has been named his successor.
Chair Paul Bulcke described the move as “necessary,” adding; “Nestle’s values and governance are strong foundations of our company.”
