Summary
Nestle's chief executive was fired for not telling the company about a romantic relationship with an employee who worked directly under him. The decision came after an investigation by Nestle, which started because of a tip from the company's whistleblowing channel. Philipp Navratil will take over as the new chief executive.
Key Facts
- Nestle dismissed its chief executive, Laurent Freixe, for not disclosing a romantic relationship with a subordinate.
- Freixe was let go immediately after an internal investigation by the company's chair and lead independent director.
- The investigation began following a report through Nestle's whistleblowing channel.
- The relationship was with an employee who was not on the executive board.
- Laurent Freixe had been with Nestle for almost 40 years and became chief executive last September.
- Philipp Navratil has been appointed to succeed Freixe as the new chief executive.
- Nestle is known for products such as Kit Kat chocolate bars and Nespresso coffee capsules.
