Good morning. Corporate CEOs are hired to bring stability to troubled companies. Nestle just fired its second CEO in two years.

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Nestle abruptly dismissed CEO Laurent Freixe on Monday for failing to disclose a romantic relationship with a subordinate, the Swiss food giant announced. The removal comes exactly one year after Freixe took leadership of the company.

The dismissal followed two internal investigations into the undisclosed relationship, which breached company conduct codes. Nestle appointed Philipp Navratil, former Nespresso head, as immediate successor. Freixe will receive no exit package, officials said.

The leadership change adds volatility amid challenging consumer conditions and trade disruptions. Nestle shares have fallen 17% over the past year. The company said strategy and targets remain unchanged despite the abrupt transition.

See Nestle’s half-year results here.

Former California Governor Arnold Schwarzenegger is opposing a Democratic plan to bypass the state's independent redistricting commission, according to recent reports. The proposal could net five Democratic House seats by allowing legislature-approved district lines to take effect mid-decade.

Schwarzenegger championed the independent commission during his governorship, which voters approved to prevent partisan gerrymandering. Governor Gavin Newsom is pushing the ballot measure this fall, responding to Texas legislation that could net five Republican House seats (More).

Political experts view Schwarzenegger's involvement as defending his reform legacy. The former governor told the Houston Chronicle that redistricting efforts in both states serve parties rather than people, calling them "very wrong."

Businesses nationwide are reviving "recession specials" reminiscent of 2007-2009 Great Recession promotions, according to recent reports. Companies from burger chains to coffee shops offer discounted combos targeting cash-strapped consumers amid declining confidence levels.

Consumer confidence dropped to 97.4 in August from 98.7 in July, falling below the 100-point optimism threshold. San Francisco’s Super Duper burger chain leads the trend with a $10 "recession combo," while trade policy concerns and inflation fears drive consumer caution.

Experts debate whether the specials indicate genuine economic distress or represent opportunistic marketing targeting budget-conscious shoppers. Personal finance expert Rachel Cruze told Newsweek the trend reflects families "looking for ways to save" during uncertain times.

Most knowledge workers train like amateurs. Economist Tyler Cowen treats thinking like elite athletics. Core training principles:

Cowen would ask you: “What is it you do—that is comparable to a pianist practicing scales?—If you don’t know the answer to that one, maybe you are doing something wrong or not doing enough.”

The bottom line: Most people consume information passively. Elite thinkers practice actively.

Read this article.

Founders podcast distills Walter Isaacson's Elon Musk biography through 60+ hours of research, extracting only company-building principles. Everything else deleted—pure focus on how Musk operates and builds revolutionary companies.

Listen on Spotify, YouTube or Apple.

▲ American businesses petition Commerce Department for tariff protection on 400+ products including flatware, bulldozers.

▲ Xi Putin signal alternative world order with Modi through hand-holding display at China security summit.

▲ World Liberty token falls 12% to $0.246 in debut trading day after Trump family launch.

▲ Bill Belichick debuts as UNC college coach Monday night against TCU after legendary NFL career.

▲ Gavin Newsom leads 2028 Democratic presidential rankings after party's "leaderless" status following Harris defeat

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