Nestle CEO Laurent Freixe has been dismissed after a code of conduct breach involving a romantic relationship with a direct subordinate. Philipp Navratil has been appointed as his successor. Chairman Paul Bulcke and Lead Independent Director Pablo Isla oversaw the investigation that led to Freixe’s departure. Navratil, a company veteran who joined Nestle in 2001, has taken over the CEO role. He has held various roles within the company, including country manager for Nestle Honduras and leadership positions in the coffee and beverage business. Navratil joined the Nestle executive board on January 1 this year.

Read more at Yahoo Finance: Nestle dismisses CEO Laurent Freixe after code of conduct breach