Nestlé dismisses Ceo After “undisclosed Romantic Relationship”

Nestlé CEO Laurent Freixe. Credit: Flickr / Nestlé

Nestlé has dismissed CEO and institution seasoned Laurent Freixe aft an “undisclosed romanticist narration pinch a nonstop subordinate”.

In a connection issued conscionable aft 19:00 CET coming (1 September), nan world’s largest nutrient group said Freixe had near nan business pinch contiguous effect.

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Freixe, a institution seasoned who had worked astatine Nestlé for almost 40 years, was named CEO successful August past year, taking nan helm nan pursuing month.

The KitKat and Maggi shaper said nan narration breached its “code of business conduct”.

Chairman Paul Bulcke said: “This was a basal decision. Nestlé’s values and governance are beardown foundations of our company. I convey Laurent for his years of work astatine Nestlé.”

The Swiss elephantine has appointed Philipp Navratil, nan CEO of Nestlé’s java business Nespresso, arsenic its caller main executive.

Navratil has worked astatine Nestlé since 2001, holding roles successful Central America earlier becoming nan SVP of nan company’s java strategical business portion successful 2020.

Bulcke, who Nestlé announced successful June is group to measurement down arsenic president adjacent year, said: “Philipp is recognised for his awesome way grounds of achieving results successful challenging environments. Renowned for his move presence, he inspires teams and leads pinch a collaborative, inclusive guidance style. The committee is assured that he will thrust our maturation plans guardant and accelerate ratio efforts. We are not changing people connected strategy and we will not suffer gait connected performance.”

Navratil added: “I afloat clasp nan company’s strategical direction, arsenic good arsenic nan action scheme successful spot to thrust Nestlé’s performance. I look guardant to moving intimately pinch nan full activity of nan company, successful alignment pinch nan board, president Paul Bulcke and chairman-designate Pablo Isla, to accelerate execution and to thrust nan worth creation scheme pinch intensity.”

Nestlé announced successful June Bulcke would not guidelines for re-election arsenic president astatine nan company’s adjacent AGM successful April.

Bulcke has worked for nan group for almost 40 years, including 9 arsenic CEO up to 2016 earlier he was succeeded by Mark Schneider.

Freixe replaced Schneider a twelvemonth ago.