Nestlé in Turmoil: Ex-CEO Sacked Amid Scandal
Nestlé's ex-CEO Laurent Freixe was dismissed following complaints of favoritism and a romantic relationship with an employee. Despite an initial investigation finding no evidence, a subsequent probe confirmed breaches of conduct. Philipp Navratil replaces Freixe to stabilize the company during turbulent times.
In a surprising turn of events, Nestlé dismissed its ex-CEO Laurent Freixe after allegations emerged of improper favoritism and a romantic involvement with a subordinate employee. The decision marks a critical juncture for the Swiss food giant, which announced Freixe's departure two days prior.
Anna Manz, Nestlé's Chief Financial Officer, revealed at an investor conference that an internal investigation, initially finding no evidence, was conducted by the company's board concerning Freixe's alleged conduct. Despite Freixe's denial of these claims, further complaints prompted a second inquiry that confirmed breaches of the company's code of conduct.
In immediate response, Philipp Navratil has been appointed as Freixe's successor. Navratil is expected to bring a renewed perspective as the company navigates a challenging managerial phase following Mark Schneider's controversial leadership and subsequent departure.
(With inputs from agencies.)
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