Nestlé, a multinational organisation has fired its Chief Executive, Laurent Freixe, with immediate effect for having affairs with a direct subordinate whose name the company has refused to mention.
The sack was effected after an internal probe found that he had engaged in an undisclosed romantic relationship with a direct subordinate.
The Swiss multinational that is behind Nespresso and KitKat made its decision known on Monday.
The company explained that the relationship breached its code of business conduct.
Meanwhile, following the sack,Nespresso CEO, Philipp Navratil was immediately appointed to take over as Chief Executive.
Nestlé’s Board explained that the investigation was conducted by Chairman Paul Bulcke and lead Independent Director, Pablo Isla, with support from external counsel.
“This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” Bulcke said.
Freixe, who joined Nestlé in France in 1986, previously led its European operations through the 2008 financial and euro crises before moving on to head the Latin American Division.
He became CEO in September 2024 was tasked with reviving consumer spending on the company’s food and household goods.
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