Nestlé abruptly fired CEO Laurent Freixe over an undisclosed affair with a direct subordinate, a rare move in corporate governance as he was dismissed without severance. The Swiss food giant named Philipp Navratil, a veteran executive and head of Nespresso, as the permanent CEO following this turmoil. Navratil, who has spent over two decades at Nestlé, faces the challenge of restoring financial performance and stability after shares dropped over 40% since early 2022. The incident marks unprecedented CEO turnover for the company.