Nestle is trending globally after the Swiss food giant dismissed French business executive, Laurent Freixe. Initially, the decision came as a shock because Freixe was appointed as Nestle CEO in November 2024, after the abrupt departure of Mark Schneider. However, after Nestle shared an official statement over their decision to terminate Laurent Freixe, who had been in his position for less than a year, people are rightly impressed by the company’s strong foundations. In their official statement, Nestle shared that Laurent Freixe was terminated due to his undisclosed romantic relationship with a junior office subordinate.
Nestle fires Laurent Freixe over undisclosed romantic relationship with his junior subordinate, here’s what happened
The matter was investigated by Nestle’s chairman, Paul Bulcke and lead independent director, Pablo Isla. In the same statement, Bulcke emphasised the seriousness of the matter and explained that Nestle’s decision to take such an extreme step was based on its values and foundations. Bulcke clearly stated that such a decision is “unavoidable” in matters such as these. The 63-year-old business executive hasn’t reacted to his termination due to his affair with a subordinate.
For the uninitiated, Laurent Freixe spent 40 years at Nestle, and it was a welcome surprise to finally see him appointed as the new CEO of Nestle last year. However, to see him departing from the company after four decades in such a manner is truly disappointing on so many levels. Laurent Freixe’s journey from negotiating contracts with grocery stores for Nestle to becoming its CEO is a case study that will be studied at various business schools worldwide. However, his departure from Nestle also teaches everyone a valuable lesson about tackling temptations and respecting office policies.
Laurent Frexie’s secret romantic relationship: How Nestle exposed the affair, and what is the identity of the subordinate?
According to multiple reports, concerns were raised earlier this year about Laurent Frexie’s undisclosed romantic relationship with his junior subordinate. Nestle initiated an internal investigation, but the assigned team was unable to gather substantial evidence, and the matter was subsequently closed. However, when the complaints continued for months, Nestle decided to launch a second enquiry into the matter, and this time they involved an external counsel as well. According to a report in the BBC, Nestle has decided not to share any details of the junior staff member who was involved in a romantic relationship with Laurent Frexie. The office affair was exposed after a report was made through Nestle’s whistleblowing channel, which eventually led to the beginning of an investigation into this matter.
Reason why Laurent Freixe will not receive the “exit package” from Nestle worth around 11-12 million USD
Apart from losing his position as the CEO of Nestle, Laurent Freixe also suffered a major loss of around 11-12 million USD. According to multiple reports, Nestle hasn’t disclosed the precise amount that Freixe will be getting for his short stint as the company’s CEO. Freixe’s predecessor, Ulf Mark Schneider, received USD 11.9 million, and, according to reports, the former was also expected to receive a similar package upon his exit. However, as per the BBC, Freixe will not receive the “exit package” following his termination, which means his affair cost him around 11-12 million USD.
Who is Nestle’s new CEO, Philipp Navratil? From an international auditor to the CEO of a Swiss food giant
Regarding Nestle’s newly appointed CEO, Philipp Navratil, he was born in Switzerland in 1976 and holds both Swiss and Austrian nationality. Navratil holds a Master’s degree in Business Administration and attended IIM, Bengaluru, as part of an exchange term during his studies. He started his professional career as an international auditor in 2001, and in 2009, he became the country manager for Nestle.
In 2013, Philipp Navratil took command of the company’s business in Mexico and proved his mettle in the most competitive markets. After proving his worth for more than two decades, Navratil has finally got the reward he deserves, as he becomes the successor of Laurent Freixe as Nestle’s new CEO.
What are your thoughts on Laurent Freixe’s termination over his affair with his junior subordinate? Let us know.
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