Nestlé fires boss Laurent Freixe for failing to disclose romantic relationship with underling: ‘Decision was necessary'

Group 1 - Nestlé CEO Laurent Freixe was dismissed for failing to disclose a romantic relationship with a subordinate, violating the company's code of conduct [1][4][7] - The company announced that Philipp Navratil, previously the head of Nestlé's Nespresso unit, has been appointed as the new CEO effective immediately [4][11] - Nestlé's stock has experienced a decline of over 17% in the past year, dropping from a 52-week high of $114.65 in March to a low of $87.38 last month, closing at $94.36 [8] Group 2 - The dismissal of Freixe adds to the volatility faced by Nestlé amid a challenging consumer environment and global trade tariff threats [7] - The company has undergone several management changes this year, similar to other global consumer goods and food companies like Unilever, Diageo, and Hershey [8]