Reuters —

Nestle has dismissed its CEO, Laurent Freixe, after a code of conduct breach, the company said on Monday, appointing Philipp Navratil as his successor.

Nestle said Freixe’s departure follows an investigation overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla into an undisclosed romantic relationship with a direct subordinate, which breached the company’s code of business conduct.

“This was a necessary decision,” said Bulcke in a statement . “Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service.”

Company veteran Freixe took over the CEO role in September last year after Nestle ousted his predecessor, Mark Schneider.

Navratil began his career with Nestle in 2001 as an internal auditor. After h

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