Nestle's CEO Scandal: Ousted Amid Allegations of Favoritism

Nestle faced allegations of favoritism involving former CEO Laurent Freixe. An internal investigation, overseen by the board, found no evidence of a romantic relationship. Despite his denial, Freixe was dismissed following a second probe. CFO Anna Manz reported these developments at an investor conference.

Nestle, the multinational food giant, finds itself embroiled in controversy as former CEO Laurent Freixe faces allegations of improper favoritism and an alleged romantic relationship.

According to Chief Financial Officer Anna Manz, the matter underwent an internal investigation, which found no supporting evidence for the claims. Freixe publicly denied these allegations.

Despite the lack of evidence, a second investigation led to Freixe's dismissal on Monday, with Nestle prioritizing integrity and accountability within its leadership ranks.

(With inputs from agencies.)