Workplace scandal exposed: Nestle's CEO, who had just taken office for one year, was forced to resign.
Nestle, known for its conservative corporate culture, is once again in turmoil at the top management level. The world's largest food company has shown its recently appointed CEO Laurent Freixe the door after it was discovered that he was involved in an undisclosed workplace romance with a subordinate. The Swiss company announced on Monday evening that an investigation had uncovered Freixe's romantic relationship with a direct report. Nestle also announced the appointment of Philipp Navratil, the head of the Nespresso coffee brand, as the new CEO. "This is a necessary decision," said company chairman Paul Bulcke in a statement. "Nestle's values and governance are the strong foundation of our company. I thank Laurent for his years of service." This sudden change in leadership once again plunges Nestle into leadership turmoil. Last year, Mark Schneider was fired after nearly eight years at the helm due to poor performance, and Freixe took over. At the time, he was seen as a reliable successor who could revive Nestle's traditional strengths.
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