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Danone: the search for the future CEO starts in a tense atmosphere

2021-03-02T20:10:50.130Z

Opponents of Emmanuel Faber fear that the CEO will hamper the process of recruiting his successor. “Danone's Board of Directors renews its unanimous support for Emmanuel Faber, who proposes to initiate the process of dissociation of the functions” of Chairman and Chief Executive Officer. In the aftermath of a board supposed to put an end to months of governance crisis on Monday evening, observers remain perplexed. Contested within the board, did CEO Emmanuel Faber only save face by obtaining t



“Danone's Board of Directors renews its unanimous support for Emmanuel Faber, who proposes to initiate the process of dissociation of the functions”

of Chairman and Chief Executive Officer.

In the aftermath of a board supposed to put an end to months of governance crisis on Monday evening, observers remain perplexed.

Contested within the board, did CEO Emmanuel Faber only save face by obtaining this unanimous support, but lost the war by being forced to give up general management?

Or did he win his showdown by obtaining pledges in return for the dissociation that allows his opponents to save face?

"The putschists were in the minority,"

explains a close associate of the CEO.

They were forced to support him because they were not forced to resign from the board. ”

A victory

This compromise has in any case given birth to a baroque board of directors: out of sixteen members, there is now an honorary president (Franck Riboud, the former CEO), a president (Emmanuel Faber),

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Source: lefigaro

All business articles on 2021-03-02

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