News

Nestle Sacks CEO Over Office Romance

Published

8 months ago

September 1, 2025

Editor

Swiss food giant, Nestle, on Monday dismissed Laurent Freixe as chief executive with immediate effect over an “undisclosed romantic relationship with a direct subordinate.”

The multinational behind Nespresso coffee capsules and KitKat chocolate bars said Freixe’s dismissal followed an investigation.

In a swift move, Nespresso CEO, Philipp Navratil, was appointed to take over by his fellow board members.

“The departure of Laurent Freixe follows an investigation into an undisclosed romantic relationship with a direct subordinate which breached Nestle’s code of business conduct,” a statement said.

The board said it had ordered an investigation overseen by chairman Paul Bulcke and lead independent director Pablo Isla, with the support of outside counsel.

“This was a necessary decision. Nestle’s values and governance are strong foundations of our company. I thank Laurent for his years of service,” Bulcke said in a statement.

A company veteran, Freixe joined Nestle in France in 1986. He ran the firm’s European operations until 2014, steering them through the subprime and euro crises that began in 2008.

He headed the Latin America division before his promotion as CEO.

Freixe had only been in the top spot since a surprise switch in September 2024, entrusted with reversing soft spending by consumers for the company’s food and household goods.

Nestle’s share price slumped by nearly a quarter last year, raising concerns in Switzerland, where pension funds invest heavily in the company, whose brands also include Purina dog food, Maggi bouillon cubes, Gerber baby food and Nesquik chocolate-flavoured drinks.

Nestle shares closed up 0.13 percent at 75.49 Swiss francs on the Swiss stock exchange.

– Net profits –

In late July, Nestle reported a 10.3-percent drop in first half profits as it struggled to turn around its fortunes amid sluggish consumer spending in China, even as it passed on higher cocoa and coffee prices to consumers.

New chief executive Navratil had been an executive vice-president at Nestle, which is headquartered in Vevey on Lake Geneva.

“The board is confident that he will drive our growth plans forward and accelerate efficiency efforts. We are not changing course on strategy and we will not lose pace on performance,” insisted chairman Bulcke.

Navratil started his career with Nestle in 2001 and took on various roles in Central America, leading the coffee and beverage business in Mexico from 2013 to 2020, when he took over responsibility for global strategy and innovation for the Nescafe and Starbucks brands.

He became chief executive of the Nespresso brand in July last year and joined the company board in January 2025.

“I fully embrace the company’s strategic direction, as well as the action plan in place to drive Nestle’s performance,” said Navratil, pledging to “drive the value creation plan with intensity.”

News

Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court

Published

3 hours ago

May 6, 2026

Editor

The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.

Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.

In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.

The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.

They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.

The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.

In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.

The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.

The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.

According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.

However, the matter has yet to be assigned a hearing date.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

9 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

9 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.