Danone starts search for new CEO as Faber to give up role

Tuesday, March 2, 2021 at 5:44pm UTC

Danone recently said that Emmauel Faber will step down as CEO in an attempt to alleviate pressure from shareholders who have asked for new management to revive the world's largest yogurt maker.

Danone mentioned that it will separate the chairman and CEO positions which Faber has held for the past three years. As soon as the company finds a new CEO, Faber will become non-executive chairman.

The company said the board will continue to support Faber who will continue managing Danone until a new CEO arrives.