Putting the governance in ESG? Danone splits Chairman and CEO roles Danone is a company well-known for its commitments to environmental and social sustainability. But the French dairy giant’s structure – combining the CEO and Chairman roles – has raised some concerns about the G in ESG. As the group comes under pressure from activist shareholders, will Emmanuel Faber’s decision to step back from the post of Chief Executive please critics?
Danone’s top executive Emmanuel Faber put a proposal to the company’s board of directors yesterday (1 March) to separate the functions of Chairman and CEO - which he is currently responsible for - ‘in the near future’.
Danone International CEO talks brand acceleration and innovation: ‘The Local First project is a growth project’ Danone is coming under increasing investor pressure to invigorate its brands – an effort that requires innovation and investment. The group’s International CEO, Véronique Penchienati-Bosetta, says that the company’s new ‘Local First’ strategy will deliver just that.
French food giant Danone benefits from a strong position in health and wellness foods. It is the owner of leading yogurt brands Activia and Actimel and has a desirable footprint in plant-based products through Alpro in Europe and Silk in the US.
But the company is coming under pressure from activist investors, who argue that these strengths are not translating to a superior performance.