(Bloomberg) — Nestlé SA named Philipp Navratil as its new chief executive officer after the Swiss food company dismissed Laurent Freixe over an undisclosed romantic relationship.
An investigation showed that Freixe had an undisclosed relationship with a direct subordinate, according to a press release Monday. The probe was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla with the support of independent outside counsel.
“This was a necessary decision,” Bulcke said according to the statement. “Nestlé’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”
Navratil was previously senior vice president and head of the Coffee Strategic Business Unit, where he was responsible for the global strategy of the Nescafé and Starbucks brands.
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