Nestle shocked the business world by firing its CEO, Laurent Freixe. The company confirmed he was involved in a secret romantic relationship with a subordinate. This broke Nestle’s strict code of conduct. Freixe’s exit comes exactly one year after he became CEO.
Freixe, 63, has dedicated 40 years to Nestle. He started his journey negotiating contracts with grocery stores. Over the decades, he steadily climbed the company ladder. His hard work earned him respect and leadership roles. In September 2024, he reached the top as CEO. Many saw him as a steady hand for Nestle’s future. But everything changed quickly. The news of his sudden dismissal shocked employees. Industry experts were caught off guard. Few expected such a dramatic end to a long, successful career.
The investigation began after someone filed a complaint through Nestle’s whistleblowing system. Chairman Paul Bulcke led the internal inquiry. At first, the company dismissed the concerns as unproven. But after more complaints came in, Nestle brought in external counsel. The second investigation confirmed that Freixe’s relationship broke company rules.
Freixe will not receive an exit package. This is unusual for a CEO of a company like Nestlé. His predecessor earned nearly $12 million a year. Despite this, Nestle chose not to give Freixe any severance pay. He does own shares in the company. Those shares are worth about $3.6 million. However, Nestle has not commented on what will happen to them. This move sends a strong message about consequences at the top.
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Nestle rarely fires top executives, making this a notable move. The company wants to send a clear message about workplace ethics and governance. For a global giant with over 150 years of history, it is a reminder that no one is above company rules.
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