Nestle has dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world¡¯s biggest food company that¡¯s known for its conservative corporate culture.
An investigation showed that Freixe had an undisclosed romantic relationship with a direct subordinate that violated Nestle¡¯s code of conduct, according to a release late Monday from the Swiss owner of Purina pet supplies and KitKat chocolate bars. It named Philipp Navratil, who heads the Nespresso coffee brand, as his replacement.
¡°This was a necessary decision,¡± Chairman Paul Bulcke said in the statement. ¡°Nestl¨¦¡¯s values and governance are strong foundations of our company. I thank Laurent for his years of service.¡±
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