As a result of pressure from investors Artisan Partners and Blue Bell Capital Partners, the Board of Danone has moved Emmanuel Faber recently the CEO to the position of non-Executive Chairman. The company has yet to announce a new CEO. Gilles Schnepp has been appointed as Joint Vice-chairman with Cecile Cabanis, the former CFO. Jean Michel Severino, will be the Lead Independent Director and Chairman of the Governance Committee.

Emmanuel Faber Outgoing CEO
and Cecile Cabanis CFO

Danone sales were 6.6 percent lower for fiscal 2020 compared to the previous year at $28.6 billion.  Danone recently announced that it will sell its equity in Mengniu, a leading dairy producer in China and will reduce head count by approximately two thousand employees.  In recent years, Faber diversified into non-dairy products including plant-based protein.

Danone produces under a range of brands including Activia and Alpro.