Reuters
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Nestle has dismissed its CEO, Laurent Freixe, after a code of conduct breach, the corporate mentioned on Monday, appointing Philipp Navratil as his successor.
Nestle mentioned Freixe’s departure follows an investigation overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla into an undisclosed romantic relationship with a direct subordinate, which breached the corporate’s code of enterprise conduct.
“This was a necessary decision,” mentioned Bulcke in a statement. “Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”
Company veteran Freixe took over the CEO position in September final 12 months after Nestle ousted his predecessor, Mark Schneider.
Navratil started his profession with Nestle in 2001 as an inner auditor. After holding numerous business roles in Central America, he was appointed nation supervisor for Nestle Honduras in 2009.
He assumed management of the espresso and beverage enterprise in Mexico in 2013, and transitioned to Nestle’s Coffee strategic enterprise unit in 2020.
He moved to Nespresso in July 2024, and joined the Nestle government board on January 1 this 12 months.