Nestle Faces Leadership Turmoil: CEO Dismissed Amidst Romantic Affair Scandal
Nestle has dismissed CEO Laurent Freixe after a year due to a romantic relationship with a subordinate, marking its second CEO controversy within a year. Nespresso's Philipp Navratil steps in as Nestle faces declining sales and investor confidence. Freixe's sudden departure adds to the series of executive dismissals over workplace relationships.
Nestle has plunged into managerial disarray following the termination of CEO Laurent Freixe after an undisclosed romantic liaison with a subordinate, breaking company ethics. This decision marks the second CEO ousting in a year, throwing the Swiss food titan into unprecedented leadership chaos.
Nespresso head Philipp Navratil emerges as the new CEO amid Nestle's struggles with dwindling sales, U.S. tariffs, and declining investor confidence. The abrupt exit of Freixe has echoed similar high-profile departures in major corporations over undisclosed workplace relationships.
Nestle's shares continue to underperform, losing significant market value. Investors now look towards Navratil to rejuvenate the giant through strategic focus on cost-cutting, ambitious M&A, and enhancing growth in emerging markets.
(With inputs from agencies.)
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