, Columnist
Nestlé Can’t Risk Playing It Safe
After firing its CEO, the board is hoping an insider will bring stability. Too bad the company needs shaking up.
Laurent Freixe had to go. But the board didn’t need to tap another insider to replace him.
Photographer: Stefan Wermuth/Bloomberg
It’s the stuff of boardroom nightmares.
Nestlé SA fired CEO Laurent Freixe on Monday after an internal probe revealed an undisclosed romantic relationship with a direct subordinate. After nearly four decades at Nestlé, he lasted only a year in the top job.