Changes in Danone’s top management

With the transitional period of enhanced Chairmanship coming to an end this year as previously announced, Danone’s Board of Directors has unanimously voted to combine the functions of Chairman and Chief Executive Officer. Emmanuel Faber, who has served as CEO since 2014, has been appointed Chairman and CEO of Danone, effective 1 December 2017. Mr. Faber will succeed Franck Riboud as Chairman. 

Mr. Riboud will become Honorary Chairman of Danone and will continue to serve as a Director of the company and a member of the Strategic Committee of the Board. Current Director Benoît Potier, Chairman and CEO of Air Liquide, will succeed Mr. Riboud as Chairman of the Strategic Committee. 

 In addition, on the scheduled expiration of his term in April 2018, current Lead Independent Director Jean Laurent, 73, will not stand for re-election. The Nomination and Compensation Committee is in the final stages of identifying Mr. Laurent’s successor. Danone also intends to expand the duties and responsibilities of the Lead Independent Director in order to further reinforce its balanced Board leadership structure. These changes are part of the Board’s ongoing and proactive focus on its composition and refreshment, with the aim of continuing to have the most relevant international and consumer sector expertise on the Board to ensure impactful contributions, while meeting the highest independence and diversity criteria.