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Swiss food giant Nestle dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The romantic relationship with a direct subordinate violates the Nestle’s code of conduct and hence, the dismissal.
This reminds of a US tech company, Astronomer, suspended its CEO Andy Byron after he was caught on a big screen at a Coldplay concert while in embrace with one of the same firm’s executives< Kristin Cabot. When their faces appeared for thousands to see, the man and woman abruptly duck and hide from the camera.
In Nestle, Freixe, who held the position of the CEO for the last one year, will be replaced by Philipp Navratil, a longtime Nestle executive.
Nestle Chairman Paul Bulcke said it was a necessary decision. Nestle’s values and governance are strong foundations of our company, he said.
Since 1986, Freixe had been with Nestle holding various roles around the world. In January 2022, when Nestle revamped its geographic structure, Freixe became the CEO of Zone Latin America. On Sept. 1, 2024, he replaced CEO Mark Schneider.
Significantly, Nestle has been witnessing a string of personnel changes in the recent past. In June, Bulcke, a former CEO who has been chairman of the board since 2017, said he would not contest the elections held in 2026. In April, Steve Presley, an executive vice president and CEO of Zone Americas, said he was retiring after almost 30 years of service.
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