• Nestlé dismisses CEO Laurent Freixe. • Freixe's dismissal follows a violation of corporate policy on workplace relationships, Nestlé said. • Philipp Navratil, former Nestlé Nespresso CEO, will succeed Freixe as the new CEO.

Nestlé says it has dismissed its chief executive, Laurent Freixe, after uncovering that he failed to disclose a romantic relationship with a direct subordinate in a violation of corporate policy.

Freixe will be succeeded by Philipp Navratil, who was previously chief executive of Nestlé Nespresso.

Freixe, a four-decade fixture of the Swiss food and beverage giant, was tapped for the role one year ago to revive growth after a period of sluggish performance under his predecessor, Mark Schneider.

Nestlé said board chairman Paul Bulcke and Pablo Isla, an independen

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