Nestlé has dismissed its chief executive after just one year in the role for failing to disclose a romantic relationship with a direct subordinate.
The Swiss company, known for KitKat chocolate bars and Nespresso coffee capsules, announced that Laurent Freixe was asked to step down immediately following an internal investigation led by Nestlé’s chair and an independent director.
The inquiry was reportedly prompted by a tip submitted through the company’s whistleblowing channel.
Nestlé chair Paul Bulcke stated, “This was a necessary decision. Integrity and governance are strong foundations of our company. I thank Laurent for his many years of service at Nestlé.”
The relationship involved an employee outside the executive board. While it was consensual, Nestlé considered it a conflict of interest because it was not disclosed.
