© Reuters. FILE PHOTO: Emmanuel Faber, Chief Government Officer of French meals group Danone, poses earlier than a information convention to current the corporate’s 2019 annual leads to Paris
PARIS (Reuters) – Emmanuel Faber, the chief government and chairman of French meals group Danone, instructed the weekly Journal du Dimanche that he didn’t maintain a “dogmatic” view as as to if the position needs to be cut up in two.
Faber is dealing with calls from activist investor Bluebell Capital Companions to step down after it took a stake within the firm late final 12 months. Danone shares fell 27% in 2020 and the corporate had been touted as a major goal for an activist fund.
“The separation of the roles of chairman and chief government has been the thing of a number of debates for years,” Faber instructed the newspaper in an interview revealed on Sunday. “Is it indispensable? In any case, I don’t maintain a dogmatic view on the matter.”
Faber has been chief government since 2014 and likewise took on the chairman’s position three years later.
He had intensified actions to try to keep at bay activist traders simply because the COVID-19 pandemic additional difficult the group’s outlook and sapped its gross sales to the restaurant sector.
It introduced a plan to chop 2,000 jobs in November and stated it will trim product ranges. Faber confirmed the job cuts included 400 in France.
Faber stated the pandemic had price the group gross sales price 1 billion euros. Gross sales of mineral water fell 30%, he stated.
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