Jakarta, cartitleloans Indonesia
–
Nestle
suddenly fired
CEO
Laurent Freixe Because Silence
Dating
with a subordinate staff.
Freixe has only served as a boss of the Swiss food beverage company.
Nestle said the decision of the dismissal of Freixe following the investigation was supervised by the Chairman of the Council Paul Bulcke and the main independent director of Pablo Isla regarding the CEO’s love affair with his hidden subordinates.This is considered to violate the company’s code of ethics.
“This is a decision that needs to be taken. Nestle’s values and governance is our company’s strong foundation. I thank Laurent (Freixe) for the years of service,” Bulcke said in a statement, quoted
cartitleloans Business,
Tuesday (2/9).
To
Reuters
, a company spokesman said concerns about the possibility of a relationship between Freixe and his subordinates first appeared in the spring last through the company’s internal hotline channels.
The Board of Directors then opened an investigation of the problem, but the results were not convincing.
Because concerns continued, the company launched a second investigation monitored by Bulcke and Isla, with the help of external firms.Freixe initially denied, but the evidence then confirmed the relationship.
Nestle emphasized that Freixe would not receive a severance package after its dismissal.As a substitute, the company appointed Philipp Navratil, an old official who previously led the Nespresso unit.
The sudden decision increased uncertainty in Nestle, moreover it happened exactly a year after the previous CEO dismissal, Mark Schneider.Nestle shares are known to have fallen 17 percent over the past year, lagging behind its competitors.
This management change raises questions about the next Nestle step, although the company insists it will not change strategy or target.
“This new change is likely to maintain a question mark regarding the medium term direction of the company,” wrote JP Morgan analyst in the notes to the client.
[Gambas: cartitleloans video]
(Fby/PT)
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