Nestlé, ceo sacked for affair with employee: renewal at the top with Philipp Navratil

Shake-up at Nestlé's top management: the Swiss giant has appointed Philipp Navratil as its new CEO, following the dismissal with immediate effect of Laurent Freixe. Freixe's dismissal followed an investigation into an undisclosed romantic relationship with one of his direct subordinates, which violated Nestlé's code of business conduct.

In line with best corporate governance practices, the board ordered an investigation that was overseen by chairman Paul Bulcke and lead independent director Pablo Isla, with the support of an external independent consultant. "This was a necessary decision. Nestlé's values and governance are the solid foundation of our company. I thank Laurent for his years of service at Nestlé,' Bulcke emphasised in a note.

Philipp Navratil 'is known for his impressive achievements in difficult environments. The board is confident that he will continue our growth plans and accelerate our efficiency efforts. We will not change course on strategy and will not lose the pace of performance,' Bulcke adds. Navratil began his career at Nestlé in 2001 as an internal auditor.