Danone has decided to alter its board structure. The position of chairman and CEO are now both occupied by current CEO Emmanuel Faber.
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Faber has been the French dairy company’s CEO since 2014 and will also assume the chairman’s responsibilities from 1 December 2017. The entire board unanimously approved the move. Current chairman Franck Riboud will become honorary chairman and will stay on as a director and member of the strategic committee. Director Benoît Potier will become Riboud’s successor as the strategic committee’s chairman.
“Combining the Chairman and CEO roles will solidify this momentum, creating a direct bridge between the Board and management that will enable the company to continue to execute on its strategy, speak with a unified voice and make decisions in an agile and transparent manner”, Riboud said.
The executive committee will also undergo several changes: it will now consist of five people who will each lead one of the company’s divisions and who will report directly to CEO Emmanuel Faber.
