Nestlé fires its CEO Laurent Freixe for an ‘inappropriate relationship’ with a subordinate employee

The latest headlines from our reporters across the US sent straight to your inbox each weekdayYour briefing on the latest headlines from across the USYour briefing on the latest headlines from across the USNestlé has fired its chief executive officer, Laurent Freixe, for what it claimed was an inappropriate relationship with a subordinate employee. The world’s largest packaged-food maker said Monday its board of directors had ordered a probe into the undisclosed romantic relationship, which it found had violated the company’s code of conduct.“This was a necessary decision,” the board’s chairman, Paul Bulcke, said. “Nestlé’s values and governance are strong foundations of our company.”Bulcke also thanked Freixe for his “years of service” at the company. Nestlé has fired its chief executive officer, Laurent Freixe, for what it claimed was an inappropriate relationship with a subordinate employee. (Gabriel Monnet/AFP via Getty Images)Freixe had worked at Nestlé’ for nearly 40 years, but his time as CEO was rather short. He was appointed to the position in September 2024, replacing Mark Schneider.When Schneider was ousted that August, the Wall Street Journal reported there had been concerns from senior employees and board members about whether he was a good cultural fit for the company. Philipp Navratil, CEO of Nestlé Nespresso, a Nestlé company that produces coffee makers, will assume Freixe’s role, the WSJ reported. Navratil has been with the company since 2001, but recently joined its executive board this past January. “I am honored by the trust the Board has placed in me, and it is a privilege to take on the responsibility of leading Nestlé into the future,” Navratil said in a statement Monday.“I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestlé’s performance.”This is a developing story…



Source link