Swiss food giant Nestl said Monday it dismissed its CEO Laurent Freixe due to an inappropriate relationship with a subordinate.

The maker of Nescaf drinks and Purina pet food said in a statement the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestl's code of conduct.

Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a longtime Nestl executive.

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"This was a necessary decision," said Chairman Paul Bulcke. "Nestl's values and governance are strong foundations of our company."

Navratil started his career with Nestl in 2001 as an internal auditor and served in a variety of roles in Central Am

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