In brief
Laurent Freixe has been dismissed as CEO of Nestlé after failing to disclose a romantic relationship with a subordinate. The termination came after an internal investigation triggered by a whistleblower report. The board emphasized the importance of governance and values in their decision-making process.
Nestle has fired its chief executive after just one year in the job because he failed to disclose a romantic relationship with a direct subordinate.
The Swiss food giant, which makes Kit Kat chocolate bars and Nespresso coffee capsules, said Laurent Freixe has been dismissed with immediate effect following an investigation led by Nestle's chair and lead independent director.
The BBC understands the inquiry was triggered by a report made through the company's whistleblowing channel.
Nestle chair Paul Bulcke, said: 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.
The relationship was with an employee who is not on the executive board and the investigation began because it represented a conflict of interest, the BBC has learned.
Mr Freixe had been with Nestle for nearly 40 years but stepped up to the global chief executive role last September, replacing Mark Schneider.
Philipp Navratil has been appointed as Mr Freixe's successor.
Mr Bulcke said the company was not changing course on strategy and we will not lose pace on performance.
