PARIS (Reuters) – France’s Danone said on Monday that its board had voted to separate the chairman and chief executive roles held by Emmanuel Faber, and launch the search for a new CEO following calls from several shareholders to shake-up governance.
Faber – who put forward the proposals, according to a statement from the company – will remain in the dual position until a new CEO is found and then become non-executive chairman.
The company behind Activia yogurts has come under pressure over its weaker returns than some peers and its share price performance, leading some investors to call on Faber to go.
(Reporting by Sarah White)
