Nestle has dismissed its chief executive, Laurent Freixe, after an investigation into an undisclosed romantic relationship with a subordinate that was found to have breached its code of business conduct. The Swiss-headquartered multinational named Philipp Navratil as his replacement. Nestle said Freixe's departure after 40 years at the company followed an investigation overseen by its chair, Paul Bulcke, and lead independent director, Pablo Isla, with the support of outside counsel, into the relationship with a direct subordinate in breach of company's conduct code.