Nestlé fires CEO for 'undisclosed affair'

Nestlé dismissed CEO Laurent Freixe was fired after only a year in the position for "undisclosed romance."

Freixe's was fired after being reported to have an affair with another subordinate caught by his "main mistress" in Swiss hotel.

The investigation was led by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, with help from independent legal advisors.

Nestlé said he was fired for breaking the company’s code of conduct.

Chairman Paul Bulcke stated: “This was a necessary decision. Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service at Nestlé.”

Freixe became CEO of Nestle on Sept. 1, 2024. He replaced Ulf Mark Schneider.

Freixe was replaced by Nespresso chief Philipp Navratil, who is a veteran with more than two decades of experience.