Nestlé has dismissed its CEO, Laurent Freixe, after just one year in the role for failing to disclose a romantic relationship with a direct subordinate. The Swiss food giant, known for Kit Kat and Nespresso, announced the immediate termination following an internal investigation led by Nestlé’s chair and lead independent director.
The probe was initiated after a whistleblower report via the company’s ethics channel. Nestlé chair Paul Bulcke stated, “This was a necessary decision. Our values and governance are the strong foundations of Nestlé. I thank Laurent for his years of dedicated service.”
The relationship, which involved an employee outside the executive board, was deemed a conflict of interest, prompting the inquiry and subsequent firing.
