NEW: Nestlé CEO fired over secret affair with subordinate

NESTLÉ announced the resignation of CEO Laurent Freixe for failing to disclose a romantic relationship with an employee, violating company policy, Reuters reports.

Following a hotline tip this spring about a possible relationship with a direct subordinate, Freixe denied the allegations during the investigation.

Freixe, a 40-year Nestlé veteran and CEO since 2024, will be succeeded by Philippe Navratil, a former vice president. Freixe will not receive a severance package.

This marks Nestlé’s second CEO resignation within a year. — Wires

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