Factbox: French food group Danone names new leaders

Factbox: French food group Danone names new leaders

News: Factbox: French food group Danone names new leaders.

(Reuters) – Danone said Monday that Emmanuel Faber would step down as chairman and CEO, immediately replaced by Gilles Schnepp as non-executive chairman, while Veronique Penchienati-Bosetta and Shane Grant will serve as CEO and deputy CEO on a temporary basis.

Activia yogurt maker has been increasingly called on by some shareholders to replace 57-year-old Faber, who became managing director in 2014 and chairman three years later.

To appease critics, Faber said in early March that he would leave his role as CEO but continue to be chairman.

The following are brief biographies of Danone’s new leadership trio:

GILLES SCHNEPP, NON EXECUTIVE CHAIRMAN

Schnepp, who joined Danone as a director late last year, was appointed non-executive chairman with immediate effect. Born in Lyon in 1958, he graduated from the Ecole des Hautes Etudes Commerciales (HEC) in 1981. He began his career in 1983 at Merrill Lynch France, where he became Vice President.

In 1989 Schnepp moved to the French electrical appliance manufacturer Legrand, where he held the positions of Chairman and CEO from 2006 to 2018. He is also a member of the boards of directors of Legrand, Saint-Gobain and Sanofi.

VERONIQUE PENCHIENATI-BOSETTA, INTERIM CEO

Penchienati-Bosetta, currently Chief Executive Officer International, will act as interim CEO. She began her career in 1989 in Hong Kong with Annick Goutal.

After holding several marketing positions at Procter & Gamble France, she joined Danone in 1999 and was Marketing Director of Lu France, a brand that Danone sold to Kraft Foods in 2007, and the group’s dairy division. She became Executive Vice President of Specialty Nutrition in 2019.

SHANE GRANT, CEO of INTERIM DEPUTY

Grant has been named Deputy Interim CEO and is currently CEO North America. The native New Zealander had spent nearly 20 years at Coca-Cola Co before moving to the group’s North American division in May last year.

Reporting by Charles Regnier and Federica Mileo in Gdansk

Original Source © Reuters

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