Dive Brief:
Danone has picked Antoine de Saint-Affrique as its CEO starting Sept. 15, the French company said in a statement. The company also plans to propose adding de Saint-Affrique to the board at the next annual shareholders’ meeting in April 2022.
The Silk yogurt and Evian bottled water manufacturer has struggled with a stagnant share price and pressure on many of its key businesses including yogurt, bottled water and baby formula. In recent months, it has joined other businesses globally as it grapples with higher costs for milk, ingredients, packaging and logistics.
Dive Insight:
Danone is in the midst of a meaningful period of upheaval in both its business and executive ranks, punctuated by the removal of its CEO amid investor discontent with the company s underperforming brands and lackluster share price. Véronique Penchienati-Bosetta, the head of Danone International, and Shane Grant, who is the CEO of its North America operations, have run the business while
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