Nestlé has dismissed its CEO Laurent Freixe following an investigation into an undisclosed romantic relationship with a subordinate, which violated the company's code of conduct. Freixe's departure marks the second CEO change within a year amid ongoing challenges for the Swiss food giant, including declining share prices and underperformance since the pandemic. He will be replaced by Philipp Navratil, a long-standing Nestlé executive with extensive experience in the company's strategic business units. The company emphasized that the decision was necessary to uphold its values and governance standards. Freixe's ousting adds to recent turbulence at Nestlé, which has seen its shares decline nearly a third over the past five years, and a recent review of its underperforming vitamins division. Industry analysts expressed concerns that the abrupt leadership change could impact the company's strategic direction and investor confidence during a period of ongoing market uncertainty.