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Danone board ousts Faber as chairman after activist pressure: Le Figaro

Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, ejected by the group's board after the Activia yoghurt maker faced growing calls from some shareholders to replace him. Faber, an advocate for environmental matters and a more sustainable way of doing business, had come under pressure as sales and margin growth underperformed some rivals in recent years. Danone said Faber would be replaced immediately by recently appointed director Gilles Schnepp in the seat of non-executive chairman, while Veronique Penchienati-Bosetta, Chief Executive Officer International, would work with Shane Grant, CEO for North America, as CEO and deputy CEO on an interim basis. ....

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Danone board ousts Faber as chairman after activist pressure


3 Min Read
PARIS (Reuters) - Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, ejected by the group’s board after the Activia yoghurt maker faced growing calls from some shareholders to replace him.
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
Faber, an advocate for environmental matters and a more sustainable way of doing business, had come under pressure as sales and margin growth underperformed some rivals in recent years. ....

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Factbox: French food group Danone names new leaders


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. ....

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