Kathmandu. FMCG major Nestlé has sacked its CHIEF Executive Officer (CEO) Laurent Freaks. Frax was sacked as CEO after he was confirmed to be in an affair with a colleague.
The company said in a statement that Frax had not informed the company about the relationship. “This is a violation of the rules,” the statement said.
The company has appointed Philip Navratil, senior vice president and head of Nestle’s coffee strategic business unit, as the new CEO.
Nestle said the decision to sack Frax was taken after an investigation. Which has revealed that he has a love affair with his direct subordinate (PA).
The research was overseen by the company’s president Paul Bulkey and chief independent director Pablo Isla. In which the help of external lawyers was also taken. Paul Bulkey said, “This decision was necessary. Nestle’s values and principles mean a lot to us. I thank Fax for his many years of service. ’
Freaks was appointed CEO only last year. Freaks worked at the company for nearly 40 years.
