Nestle stock slipped on Tuesday after the company dismissed CEO Laurent Freixe for an inappropriate relationship with a direct subordinate, according to TipRanks. Chairman Paul Bulcke and Lead Independent Director Pablo Isla led the investigation with outside counsel and emphasized governance values as the foundation of the company. Nestle appointed Philipp Navratil, who has more than 20 years of experience at the company, as its new CEO. Shares fell 0.4% Tuesday, though they remain up 17.09% year-to-date and are down 12.24% over the past 12 months. Wall Street analysts maintain a Hold rating with a $104.70 price target, suggesting an 11.66% upside.
