- Nestlé dismisses CEO Laurent Freixe.
- Freixe’s dismissal follows a violation of corporate policy on workplace relationships, Nestlé said.
- Philipp Navratil, former Nestlé Nespresso CEO, will succeed Freixe as the new CEO.
Nestlé says it has dismissed its chief executive, Laurent Freixe, after uncovering that he failed to disclose a romantic relationship with a direct subordinate in a violation of corporate policy.
Freixe will be succeeded by Philipp Navratil, who was previously chief executive of Nestlé Nespresso.
Freixe, a four-decade fixture of the Swiss food and beverage giant, was tapped for the role 14 months ago to revive growth after a period of sluggish performance under his predecessor, Mark Schneider.
Business Insider has reached out to Freixe for comment.
This story is developing and will be updated.
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