Nestle has dismissed its chief executive officer after a board-ordered investigation concluded that he had been involved in an "undisclosed romantic relationship" with a "direct subordinate," breaching the company's code of conduct.

Laurent Freixe, 63, had been with Nestle for almost four decades. Last September, he replaced Mark Schneider as global chief executive.

Newsweek contacted Nestle's press office for comment via email on Tuesday.

Why It Matters

Nestle is the world's largest food company and a household-name brand with significant pension-fund exposure.

The company's removal of its CEO after less than a year in the role comes amid broader management changes and financial pressures, including higher commodity costs and tariffs .

What To Know

In a news release on Monday, N

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