Danone by Emmanuel Faber replaces Franck Riboud as CEO

The president of Danone, Franck Riboud, has ceded his position at a board of directors to the director-general of the group, Emmanuel Faber, 53-year-old, who becomes the CEO, announced on Wednesday, Danone said in a statement. “Emmanuel Faber, managing director since 2014, is named President and ceo of Danone, from the 1st of December”. Franck Riboud becomes “honorary chairman of Danone” as well as a director and member of the strategic committee of the board, adds Danone.

This announcement “is the culmination of a transition process that I committed to the head of Danone three years ago”, in 2014 when Emmanuel Faber was appointed as DG for a “transitional period,” said Franck Riboud, quoted in the press release.

“The experience of Emmanuel, the many achievements that belong to him and his intimate knowledge of our activities and classes are the ideal choice to become president. It will lead Danone with insurance and consistency in the transformations of the future.”

An executive committee fewer

Danone has also indicated that he was bringing the staffing of its executive committee. This one is going to go from 9 to 5 members: “Three executives with operational responsibilities and two executives with functional responsibilities”, the whole “under the direction of Emmanuel Faber”. The idea is to “improve efficiency and help decision-making more agile in a context of fast-changing trends in the food sector”, according to the group.

In addition, Jean Laurent, aged 73 years and is currently lead independent director, will not be candidate for his re-election in 2018. The nominations committee, he is currently looking for a successor whose Danone plans to expand the missions and responsibilities “in order to continue to ensure the balance of powers within the board of directors”.

(With AFP)

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