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| URL | https://finance.yahoo.com/video/nestle-investors-face-more-turbulence-090002938.html |
| Last Crawled | 2025-09-24 14:43:05 (8 months ago) |
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| Meta Title | Nestle investors face more turbulence after another CEO ousted |
| Meta Description | STORY: Nestle investors were pitched back into choppy waters on Tuesday.The Swiss food giant ousted its CEO Laurent Freixe over an affair he had with a subordinate.The company's shares opened down over 3% following Freixe's sudden dismissal on Monday.It's another blow for Nestle investors who have been frustrated with three years of share price declines and no signs of a recovery this year.Freixe will be replaced by Philipp Navratil.He's a rising star at the maker of Nescafe coffee and KitKat chocolate bars.The dismissal of Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate.Nestle said it breached its code of business conduct.Freixe spent 39 years with Nestle, and just a year as its CEO.Now he will receive no exit package following his departure, the company told Reuters.Nestle's shares, a bedrock of the Swiss stock exchange, have lost almost a third of their value over the past five years.Freixe's appointment failed to halt the slide, with the company's shares shedding 17% during his leadership.The dismissal was featured on the front page of Swiss newspapers, with one noting that Nestle had lost its "legendary stability" where CEOs stayed for years before eventually becoming chairmen. |
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| Language | en-us |
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| Publish Time | 2025-09-02 09:00:02 (9 months ago) |
| Original Publish Time | 2025-09-02 09:00:02 (9 months ago) |
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