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PARIS (Reuters) - An activist investor in French food group Danone said Emmanuel Faber needs to be removed as chairman to allow the company to make a fresh start, rejecting a proposal from the board to hire a new chief executive.
FILE PHOTO: Emmanuel Faber, chief executive officer of French food group Danone, poses before a news conference to present the company s 2017 annual results in Paris, France, February 16, 2018. REUTERS/Pascal Rossignol/File Photo
Shares in Danone slipped on Tuesday after the company said Faber - who until now has combined the CEO and chairman roles - would stay on as chairman and oversee the search for a new chief executive.
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ABIDJAN/LONDON (Reuters) - Ivory Coast and Ghana are cancelling all cocoa sustainability schemes that U.S.-based Hershey runs in their countries, accusing the chocolatemaker of trying to avoid paying a cocoa premium aimed at combating farmer poverty.
FILE PHOTO: A farmer opens a cocoa pod at a cocoa farm in Bobia, Gagnoa, Ivory Coast, December 6, 2019. REUTERS/Thierry Gouegnon/File Photo
In a letter addressed to Hershey and seen by Reuters, the Ivorian and Ghanaian cocoa regulators accuse Hershey of sourcing unusually large volumes of physical cocoa on the ICE futures exchange in order to avoid the premium, known as a living income differential (LID).
An activist investor in French food group Danone said Emmanuel Faber needs to be removed as chairman to allow the company to make a fresh start, rejecting a proposal from the board to hire a new chief executive.
An activist investor in French food group Danone said Emmanuel Faber needs to be removed as chairman to allow the company to make a fresh start, rejecting a proposal from the board to hire a new chief executive.
Private label food group TreeHouse Foods on Tuesday appointed two new independent directors to its board, three weeks after activist investment firm Jana Partners urged the company to consider selling itself.