In brief
Laurent Freixe has been ousted as CEO of Nestlé after an investigation revealed he did not disclose a romantic relationship with an employee. The dismissal was described as necessary to uphold the company’s values and governance. Philipp Navratil has been named as Freixe's successor.
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 said: '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 said the company was 'not changing course on strategy and we will not lose pace on performance.'
