Nestlé, the world’s largest consumer equipment company, has dismissed its CEO, Laurent Frex, after revealing unknown romantic relationships with the subordinate.
According to ReutersThe company’s internal reporting channel “Speak” raised concerns about the first possible relationship in spring. Following the board’s investigation, Frex denied the relationship, meanwhile.
The staff concerns remain intact, which led to another investigation by Chairman Bulk and Lead Independent Director Isla and Independent External Lawyer. This time, investigators learned that they directly consider a proof of romantic relationships with subordinates. Swiss website Inside the Paradiplets According to reports, when Freex met an unidentified woman in 2022, he was the head of the Latin American business in Nestlé.
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This relationship violated the Code of Conduct of Nestlé, and as reported Fox Business NewsFreex was immediately removed after one year in this role as a result of this violation. He was not awarded any external compensation.
“This was an important decision,” said Chairman Paul Balkk. “I thank Laurent for his years of service in Nestlé.”
Nestlé had installed Philip Norteel, the head of the Nespresso Division, as the new CEO.
For Nestlé, this is the second CEO to get out of the second CEO, which has increased its financial problems. Swiss Food Dev’s shares have reduced the leadership of Frex by 17 %, and in the past five years, this value has increased by about one -third.
Nestlé, the world’s largest consumer equipment company, has dismissed its CEO, Laurent Frex, after revealing unknown romantic relationships with the subordinate.
According to ReutersThe company’s internal reporting channel “Speak” raised concerns about the first possible relationship in spring. Following the board’s investigation, Frex denied the relationship, meanwhile.
The staff concerns remain intact, which led to another investigation by Chairman Bulk and Lead Independent Director Isla and Independent External Lawyer. This time, investigators learned that they directly consider a proof of romantic relationships with subordinates. Swiss website Inside the Paradiplets According to reports, when Freex met an unidentified woman in 2022, he was the head of the Latin American business in Nestlé.
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