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By Reuters Staff
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PARIS (Reuters) - An activist investor has called on Danone chief executive Emmanuel Faber to step down after taking a stake in the French food group late last year.
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Shares in the maker of Actimel yoghurt and Evian bottled water moved higher on Tuesday after news of the investment emerged. The shares fell 27% in 2020 and Danone had been touted as a prime target for an activist fund.
Bluebell Capital Partners - whose executives have pushed for changes at fashion label Hugo Boss in Germany and lender Mediobanca in Italy - took a stake in Danone in 2020, according to a letter sent by the fund to Danone board member Michel Landel in November, and seen by Reuters.