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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.
Danone has ousted chairman and CEO Emmanuel Faber as it continues to shake up the board following pressure from activist investors. Plus, Deliveroo revealed it would raise approximately £1bn of new money in its upcoming flotation on the London Stock Exchange.
March 15, 2021 1:27 pm
Multinational dairy giant Danone has announced a changing of the guard at top level, revealing that its board has decided to replace its current CEO and chairman.
In a statement today (Monday, March 15), the firm behind the Activia, Actimel and Alpro brands revealed a shake-up of key governance changes.
Danone has a sizeable presence in Ireland, operating two baby formula production plants in Wexford and Macroom, Co. Cork.
“The board has decided that Emmanuel Faber will step down as chairman and CEO,” the statement said.
As a consequence, it has appointed Gilles Schnepp as chairman of the board with immediate effect.