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    BN   FR0000120644

DANONE

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Danone needs new independent chairman instead of Faber, says investor Artisan

03/03/2021 | 04:54am EDT

PARIS, March 3 (Reuters) - U.S investment company Artisan Partners on Wednesday said that Danone needed to appoint a new, independent chairman, adding more pressure on Emmanuel Faber who holds that position at the French food company.

This week, Danone said Faber - who until now has combined the CEO and chairman roles - would stay on as chairman and oversee the search for a new chief executive.

"With Mr. Faber as chairman, the incoming CEO will not have the appropriate latitude to set a new direction," wrote Artisan, which has a stake of around 3% in Danone.

Artisan Partners' letter to Danone's board of management echoed a similar position from investment company Bluebell, which also said Danone should appoint another independent chairman instead of Faber.

Activist investors say Danone - whose brands include Evian and Actimel - needs a management revamp as they believe that under Faber's tenure, Danone's sales growth, margins and share price have lagged rivals, including Perrier-owner Nestle and Unilever, the maker of Cornetto ice cream and Lipton tea. (Reporting by Gwenaelle Barzic, Benoit Van Overstraeten, Sudip Kar-Gupta; editing by Jason Neely and Louise Heavens)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DANONE 1.29% 60.34 Real-time Quote.12.24%
NESTLÉ S.A. -2.04% 106.48 Delayed Quote.2.13%
UNILEVER PLC -0.60% 4132.5 Delayed Quote.-5.92%
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Financials
Sales 2021 23 741 M 28 617 M 28 617 M
Net income 2021 1 813 M 2 185 M 2 185 M
Net Debt 2021 11 563 M 13 938 M 13 938 M
P/E ratio 2021 21,1x
Yield 2021 3,28%
Capitalization 39 209 M 47 166 M 47 263 M
EV / Sales 2021 2,14x
EV / Sales 2022 2,05x
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 OUTPERFORM
Number of Analysts 30
Average target price 61,12 €
Last Close Price 60,34 €
Spread / Highest target 16,0%
Spread / Average Target 1,29%
Spread / Lowest Target -25,4%
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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