The Swiss food corporation Nestlé has terminated the employment of its chief executive, Laurent Freixe, following an inquiry regarding an undisclosed relationship with a staff member.
The producer of Nescafé beverages and Purina pet food stated in a release that the termination took effect right away.
Freixe is said to have been in a secret romantic relationship with a staff member, breaching Nestlé's code of ethics.
Freixe had been in the role of CEO for just one year, yet chairman Paul Bulcke stated that his dismissal was a 'necessary' move.
Bulcke stated: 'Nestle's principles and management serve as solid pillars of our organization.'
Freixe has been associated with Nestlé since 1986, taking on various positions across different regions.
In August 2024, he was selected to take over as the top executive from the previous chief executive, Mark Schneider.
Is Laurent Freixe married?
Freixe's current marital status is not known, but it is not necessary to be married in order to have a relationship.
In the business world, an affair typically involves two individuals engaging in a sexual relationship – however, one of them is usually married or in a committed relationship.
The individual with whom Freixe was involved in a romantic relationship remains unidentified.
Who will take over as Nestlé's CEO in place of Laurent Freixe?
Freixe will soon be succeeded by Philipp Navratil, who has been with Nestlé for over two decades.
‘I completely support the company's long-term vision, along with the existing strategy aimed at enhancing Nestlé's performance,’ he stated.
The termination of Freixe marks the most recent in a series of staff adjustments within the company.
In June, Bulcke, who has served as chairman of the board since 2017 and previously held the position of chief executive, announced that he would not seek re-election in 2026.
In April, Steve Presley, who served as executive vice president and chief executive of Zone Americas, announced his retirement after nearly 30 years of work.
Headquartered in Vevey, Switzerland, Nestlé has encountered challenges similar to other food companies, such as increasing raw material expenses and the adverse effects of tariffs.
It mentioned in July that it countered rising coffee and cocoa-related expenses through price hikes.
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