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    BN   FR0000120644

DANONE

(BN)
  Report
Real-time Quote. Real-time Euronext Paris - 04/16 11:39:30 am
59.57 EUR   +0.66%
04/15DANONE  : quaterly sales release
04/07DANONE  : Group of Danone shareholders wants board to clarify strategy at AGM
RE
04/07DANONE  : 2021 Danone Mission Committee Report
PU
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Danone : Group of Danone shareholders wants board to clarify strategy at AGM

04/07/2021 | 02:17pm EDT

PARIS, April 7 (Reuters) - A group of Danone shareholders wants each member of the board of directors to present his strategic vision for the French food group at the April 29 annual shareholders meeting.

The request, made by a group of shareholders representing 0.7% of Danone's capital, was contained in an addendum to the notice of the shareholders meeting published on Wednesday.

It comes after Danone's former boss Emmanuel Faber was abruptly ousted as chairman and CEO last month, following clashes with some board members over strategy and calls from activist funds for him to resign over the group's lacklustre returns compared with some rivals.

"The recent governance crisis at Danone has highlighted both the dysfunctions in terms of form and the disagreements in terms of substance that exist within the company’s board of directors," said the group of shareholders comprising asset managers Phitrust, Ircantec, CAVP, OFI Asset Management and Mirova.

They want each Danone board member to present "his or her strategic vision for the group, in particular covering his or her personal contribution in terms of environmental issues and his or her approach to the organisation of balanced governance."

In a preliminary comment, the board of Danone said the principle of collegiality in principle prevents the directors from taking individual positions in public and that they are "naturally supportive of all the decisions taken by the board".

The board, however, said it will answer this item and that Danone will continue to engage in dialogue with shareholders.

The board reiterated its support to a plan dubbed "Local First" - which will entail reorganising Danone around regional hubs rather than brands - and its commitment to Danone's status as an Entreprise a Mission (purpose-driven company).

It also said the separation of the CEO and Chairman roles was the most suitable governance mode for the company. (Reporting by Dominique Vidalon; Editing by Andrew Cawthorne)


© Reuters 2021
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Financials
Sales 2021 23 781 M 28 497 M 28 497 M
Net income 2021 1 854 M 2 221 M 2 221 M
Net Debt 2021 11 620 M 13 924 M 13 924 M
P/E ratio 2021 20,8x
Yield 2021 3,33%
Capitalization 38 708 M 46 368 M 46 384 M
EV / Sales 2021 2,12x
EV / Sales 2022 2,02x
Nbr of Employees 100 383
Free-Float 91,8%
Chart DANONE
Duration : Period :
Danone Technical Analysis Chart | MarketScreener
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Technical analysis trends DANONE
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 60,70 €
Last Close Price 59,57 €
Spread / Highest target 17,5%
Spread / Average Target 1,90%
Spread / Lowest Target -24,5%
EPS Revisions
Managers and Directors
NameTitle
Véronique Penchienati-Bosetta Chief Executive Officer
Juergen Esser Chief Financial, Technology & Data Officer
Gilles Schnepp Non-Executive Chairman
Domitille Doat-Le Bigot Chief Digital Officer
Jean-Michel Sévérino Lead Independent Director
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