Original title: Nestlé Picks Insider to Replace CEO Fired Over Affair
Nestlé SA is turning to the executive who runs its Nespresso coffee empire to try and steady the world’s largest food business after it was rocked by the second CEO firing in a little over a year. Philipp Navratil is taking over as chief executive officer at the Swiss company, after the exit of Mark Schneider for underperformance last year and Laurent Freixe on Monday for failing to disclose an affair with a direct subordinate. The female employee no longer works at Nestle, according to a person familiar with the situation who asked not to be named discussing confidential matters.