Nestle has dismissed its CEO, Laurent Freixe, with immediate effect after just one year in the role. The move comes over an "undisclosed romantic relationship" with a "direct subordinate", which breached Nestle's code of business conduct. Freixe, who had been with the company for nearly 40 years, took over as global CEO last September, replacing Mark Schneider. As per reports, the internal investigation began after a complaint was made through Nestle's whistleblowing channel. The relationship of Freixe was allegedly with an employee who is not part of the executive board. Philipp Navratil, who has been with Nestle since 2001, has been appointed as Freixe’s successor. In a press release, Nestle chair Paul Bulcke said, “This was a necessary decision. Nestle's values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestle.” Games24x7 Layoffs: After MPL, My11Circle Parent Begins Job Cuts Following Government Ban on Real-Money Games.

Nestle Fires CEO Laurent Freixe

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