Nestle, CEO, was launched an unannounced relationship Business and Economics News

Nestle launched Nestle, CEO Laurent Frexley, just one year after the job after investigating an unannounced “romantic relationship”, and threw the second CEO within a year and threw the Swiss food giant in the deepest leadership chaos for decades.

Nestle said late on Monday that Frexi’s sudden separation followed the investigation into an unannounced romantic relationship with direct subordinate that violated the rules of Nestlé’s behavior.

Freixe has been replaced by President Nespresso Philipp Navratil, the rising star in the largest food company in the world where sales vary, the effect of the US tariff and the erosion of investor confidence after years of performance.

French ancestor Mark Schneider failed to deal with this challenge, and his job is costly in August 2024. Paul Polky, CEO from 2008 to 2016, will be rejected as president in April and will be replaced by Pablo Isla, the former CEO of Spanish retail stores Inditx.

“The loss of two executives and chairman of the year in the year has historical dimensions of Nestlé,” said Insto, the head of the Corporate Governance and Sustainability in Deca, who is the 30 best investors in Nestle.

“The new CEO needs to repair the business model and restore storage units. He needs to do better work for merger and purchases (integration and acquisitions) and focus more on emerging markets.”

The turmoil emphasizes the struggle not only in Nestle, but also other consumer commodity companies to distort sales and recover stock values, as the post -cost crisis that determines living pushes consumers towards cheaper alternatives. Meanwhile, US definitions are threatened with increasing prices and already already already extinguishing shoppers.

The shares of the Nescafe and Kitkat Chocolate maker decreased by 0.8 percent in Zurich by 1:18 pm (11:18 GMT).

to speak

The company said that concerns about the existence of a possible relationship raised by the employees through the company’s internal reports channel, spoke, although the initial investigation was not postponed. A company spokesman said that Freixe initially denied the relationship with the Board of Directors.

When the employees continued, Nestle said he had ordered the investigation that Bodok supervised and the independent director of the leadership of Isla with the support of an independent external advisor. The Swiss media reported that the Swiss lawyers from the Bayer & Carrine attorney office helped in the investigation.

Freixe, who spent 39 years with Nestle, will not receive any exit package, the company told Reuters news agency.

In a short statement, Polki Frexisi thanked the years of his service in Nestlé, but said that the chapter was a “necessary decision.”

His dismissal adds to a list of senior executives who were forced to resign after investigations into their relationships with colleagues.

The former CEO of Bernard Looney, CEO of Energy Giant BP, Steve Eastberruck has been removed for his failure to reveal relationships with colleagues.

The Swiss financial news site inside Paradeplatz reported that Freixe met women in 2022 before he became the CEO and when he was head of Nestle in Latin America.

Freixe was not immediately available to comment when contacting it via email. The identity of female subordinates has not been published.

Swiss law does not prohibit relations between senior executives and does not require disclosure, although most large companies have internal behavior symbols that require detection.

Petter’s governance expert, Peter, said against Berne University, he was not aware of the rules of Nestlé, but said that the requirements in most public companies were widely similar.

“In this regard, it seems that the behavior of Mr. Freixe – regardless of whether or not – appears to be merely stupid and incomprehensible on this day and this era,” Konz told Reuters, adding that he does not believe that investors have legal reasons against Nestle.

An opportunity to reform

Nestlé, a shock from the Swiss stock exchange, has lost nearly a third of its value over the past five years, which led to the weakness of their European peers.

Freixe’s date failed to stop the slide, and the company’s shares were attached to 17 percent of its value during its leadership, the disappointing investors.

One of the 20 best investors of Nestle welcomed the news of change, saying that Freixe was disappointment and brought Navratil an opportunity to reform more ambitious.

The investor, who refused to call it due to the sensitivity of the issue, said, adding that it is very important that the investor, who refused to name him due to the sensitivity of the issue, added that it is also important for the company to also raise that the company, which refused to call it due to the sensitivity of the issue, adding that it is also important to increase organic growth.

“The cash flow must cover the profit distributions,” the investor said. “This is absolute priority.”

In July, Nestle launched a review of her work in vitamins, which may lead to the abstraction of some brands after sales volumes in the first half lost expectations.

Freixe was shown on the first page of the Swiss newspapers with Neue Zuercher Zeitung, noting that Nestle had lost its “legendary stability” during which the executive presidents remained for years before they became presidents in the end.

AJ Bell investment manager said that the company will likely face a period of uncertainty about whether Navratil will follow the same path as his predecessor.

Mawlid said: “While Navratil is also an internal date, he wants to put his own fingerprints on the strategy, this indicates that it is possible to reset the watch when it comes to the transformation plan,” Mawlid said.