By Reuters Staff
2 Min Read
(Reuters) - Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, replaced immediately by Gilles Schnepp as non-executive chairman, while Veronique Penchienati-Bosetta and Shane Grant will serve as CEO and deputy CEO on an interim basis.
FILE PHOTO: A company logo is seen on a product displayed before French food group Danone s 2019 annual results presentation in Paris, France, February 26, 2020. REUTERS/Christian Hartmann
The maker of Activia yoghurt faced growing calls from some shareholders to replace Faber, 57, who became chief executive in 2014 and chairman three years later.
To try to appease critics, Faber said in early March he would relinquish his role as CEO but stay on as chairman.
By Reuters Staff
2 Min Read
PARIS (Reuters) - Chinese food group COFCO Corp has hired banks to advise on a plan to merge trading arm COFCO International with some domestic businesses before a listing of shares in the new entity, Bloomberg reported on Monday, citing sources.
State-owned COFCO has previously said it aims to list its international trading division, after the acquisition of Dutch-based Nidera and the agribusiness of Noble Group from 2014 turned it into a global agricultural commodity merchant.
Bloomberg said COFCO has hired banks to advise on a possible merger of COFCO International with domestic trading and processing assets ahead of an initial public offering.
The board of French food company Danone will meet this weekend without its chairman and chief executive, Emmanuel Faber, who is under pressure from activist investors to leave following poor results, Le Figaro reported on Friday.
3 Min Read
SINGAPORE/MANILA, March 11 (Reuters) - Food maker Monde Nissin Corp is aiming to list its shares in the first half of this year, in the Philippines’ first billion dollar IPO, sources said, as the company hopes to attract investors to its expanding overseas meat alternative business.
Last week, Monde Nissin filed for an initial public offering (IPO) that could raise up to 63 billion pesos ($1.3 billion) at the top end of an indicative price range, kicking off what is expected to be a record year of fundraising for local firms.
It did not give a timeline for the IPO’s launch.
By Reuters Staff
2 Min Read
(Reuters) - Campbell Soup Co said on Wednesday it expects current-quarter sales to be pressured due to supply chain disruptions caused by a major winter storm and deep freeze that engulfed several U.S. states.
FILE PHOTO: The logo and ticker for Campbell Soup Co. are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid
The soups and snacks maker, which benefited from rising demand for its ready-to-eat or quick-fix meals during the pandemic, said its plant in Texas, where it makes Prego pasta sauces, was closed for two weeks in December.