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Why was the Nestle CEO fired?

Asked 9 hours ago

Answer

Nestle CEO Laurent Freixe was fired for failing to disclose a romantic relationship with a subordinate, confirmed after an internal investigation.

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Reuters

Nestle dismisses CEO after romantic relationship with subordinate

Reuters · New
Reuters
Reuters
New
  • Laurent Frex was dismissed as Nestle CEO for not disclosing a romantic relationship with a subordinate.
  • Concerns about the relationship were raised via an internal hotline, leading to an investigation.
  • The first investigation was inconclusive, but a second probe confirmed the relationship.
  • Frex had initially denied the relationship to the board.
  • Philip Navarato has been appointed as the new CEO, and Nestle's shares have fallen 17% over the past year.
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References

Nestle dismisses CEO after romantic relationship with subordinate
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Reuters
9 hours ago
Nestle dismisses CEO after romantic relationship with subordinate

Laurent Frex was abruptly dismissed as CEO of Nestle for failing to disclose a romantic relationship with a subordinate.

Nestlé CEO Laurent Freixe departs following investigation
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CNBC
15 hours ago
Nestlé CEO Laurent Freixe departs following investigation

It follows an investigation into an undisclosed romantic relationship with a direct subordinate.

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