The Swiss food company Nestlé on Monday said it had dismissed its chief executive, Laurent Freixe, effective immediately after an investigation showed he had an "undisclosed romantic relationship" with a subordinate.
The board of directors deemed Freixe's behaviour a violation of Nestlé's code of conduct and internal guidelines, the company said in a statement.
"This was a necessary decision," said Nestlé Chairman Paul Bulcke, thanking Freixe, who had been with Nestlé for nearly 40 years, for his years of service.
The board appointed Nespresso chief executive Philipp Navratil to replace Freixe. It emphasized that the company's strategic direction remains unchanged, but it aims to accelerate growth and efficiency.
Navratil has been with Nestlé for 24 years. He began his career at the company in 2001 in internal auditing. A year ago, he was appointed chief executive of Nespresso.
Since the beginning of January, Navratil has been a member of the executive board. Freixe had only taken over as Nestlé's chief executive in September 2024, succeeding German manager and former Fresenius chief executive Mark Schneider.