Summary
Swiss company Nestlé fired its CEO, Laurent Freixe, for having an inappropriate relationship with a subordinate, violating company rules. Philipp Navratil, a long-time Nestlé employee, will take over as the new CEO. Nestlé emphasized its commitment to strong company values and governance.
Key Facts
- Nestlé fired CEO Laurent Freixe due to an inappropriate relationship with a subordinate.
- The relationship violated Nestlé’s code of conduct.
- The dismissal of Freixe took effect immediately.
- Philipp Navratil will be the new CEO.
- Navratil joined Nestlé in 2001 and worked in various roles.
- Recently, Navratil was CEO of Nestlé’s Nespresso division.
- Nestlé stressed the importance of its values and strong governance.
