Emmanuel Faber, the chief executive and chairman of French food group Danone, told the weekly Journal du Dimanche that he did not hold a dogmatic view as to whether the role should be split in.
Dive Brief:
Danone is facing pressure from Bluebell Capital Partners after the activist investor criticized the company s disappointing stock price and called for the board to start searching for a new CEO to replace its current chairman and chief executive, Emmanuel Faber, according to MarketWatch.
In a letter sent on Nov. 19 to Michel Landel, lead independent director at Danone, Bluebell also urged the dairy giant to split its chairman and CEO roles, the business website said.
Danone, which has seen its stock price languish in recent years compared to other European food companies, is the latest to come under activist pressure. In 2018, activist investor Daniel Loeb criticized Nestlé, the world s largest food company, for not moving fast enough to improve its operations.
Danone is facing calls to make further changes to the way the company is run from an activist investor. related to Danone, Baby food, Dairy, Dairy-free, Organic, Vegetarian & vegan,
By Reuters Staff
3 Min Read
PARIS (Reuters) - An activist investor has called on Danone chief executive Emmanuel Faber to step down after taking a stake in the French food group late last year.
Slideshow ( 2 images )
Shares in the maker of Actimel yoghurt and Evian bottled water moved higher on Tuesday after news of the investment emerged. The shares fell 27% in 2020 and Danone had been touted as a prime target for an activist fund.
Bluebell Capital Partners - whose executives have pushed for changes at fashion label Hugo Boss in Germany and lender Mediobanca in Italy - took a stake in Danone in 2020, according to a letter sent by the fund to Danone board member Michel Landel in November, and seen by Reuters.