Nestlé's CEO was fired after a fellow top executive - said to be his ‘long-term mistress’ - allegedly found him with another woman in a Zurich hotel room and made a complaint that led to his downfall.
Laurent Freixe, 63, worked for the confectionary firm for almost 40 years but was forced to leave his role as CEO on September 1 after just a year in the position, with no severance package.
Swiss outlet Inside Paradeplatz reports that an internal investigation found Freixe had breached Nestlé's code of conduct by failing to disclose a relationship with a junior colleague.
The probe is said to be the official explanation of an explosive behind-the-scenes drama, which allegedly saw Nestlé executives sack Freixe in a furious confrontation, demanding he hand over his phone while accusing him of being a "liar".
Sources claim that Freixe's "main mistress", a fellow senior executive, took action after finding him alone with another colleague in the Zurich hotel room.
She is said to have taken advantage of Nestlé's anonymous whistle blower hotline to expose the CEO's affair, before taking a severance package herself and moving on to another firm, The Daily Mail reports.
Nestlé confirmed Freize had been dismissed but has declined to comment on the findings of the investigation or allegations about staff relationships.
The woman allegedly caught in the hotel room with Freize has also parted ways with Nestlé and Freize is said to have arranged a generous pay package for her before he was ousted, Inside Paradeplatz reports.
The outlet writes that the unnamed woman was a marketing executive and that Freixe had "allegedly fallen in love" with her after meeting at the Swiss headquarters in Vevey in 2022.
The woman was subsequently promoted to a vice president marketing position, although it is unknown if this occurred while she was in a relationship with Freixe.
The board is said to have become aware of the romance in May.
A Nestlé spokesperson told news agency AWP that an early investigation "failed to substantiate the suspicion" but after further evidence came in, an in-depth enquiry confirmed the affair.
A Nestlé spokesperson said: "Everything that needs to be said on the matter has been said, and I will not engage in further wild conjectures and speculation."
Days after he was dismissed, Freixe reappeared on LinkedIn and alluded to his departure from Nestlé as he quipped: "I got my mobile back, I am reachable anytime."
Nestlé has been approached for comment.
Mr Freixe had been with Nestle since 1986, holding roles around the world. When the company revamped its geographic structure in January 2022, Mr Freixe became chief executive of Zone Latin America.
In August 2024, he was tapped to replace then-chief executive Mark Schneider in the top role, and started September 1, 2024.
It is the latest in a string of personnel changes for the company.
In June, Mr Bulcke, a former chief executive who has been chairman of the board since 2017, said he would not stand for re-election in 2026.
And in April, Steve Presley, an executive vice president and chief executive of Zone Americas, said he was retiring after almost 30 years of service.
Based in Vevey, Switzerland, Nestle has been facing headwinds like other food makers, including rising commodity costs and the negative impact of tariffs.
It said in July it offset higher coffee and cocoa-related costs with price increases.
