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Danone's Emmanuel Faber Steps Down as Chairman, CEO

By Giulia Petroni

 

Danone SA said Monday that Emmanuel Faber will step down as chairman of the board and will be succeeded by Gilles Schnepp, who will take up the role of nonexecutive chairman with immediate effect.

The French food company said that while a search for a new chief executive officer is underway, it has appointed CEO of International Veronique Penchienati-Bosetta and CEO of North America Shane Grant to lead the company.

Earlier this month, Mr. Faber said he would step down as CEO amid shareholders' calls for changes to governance and strategy, but initially said he would remain chairman.

"The immediate priority of the new chairman, together with the board, will be to lead the transition, including the search for a new CEO," Danone said, adding that it has appointed an international search agency to support the process.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

March 15, 2021 03:19 ET (07:19 GMT)

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