Danone board ousts Faber as chairman after activist pressure

Danone had come under pressure in recent months from several shareholders including investment fund Artisan Partners and activist investor Bluebell Capital to replace Faber at the helm. (FILE PHOTO: Emmanuel Faber, chief executive officer of French food group Danone, poses before a news conference to present the company's 2017 annual results in Paris, France, February 16, 2018. )REUTERS/Pascal Rossignol/File Photo

PARIS: The board of French food group Danone on Sunday voted to oust Emmanuel Faber as chairman, Le Figaro newspaper reported, adding that he would be replaced with Gilles Schnepp, who joined as a director late last year.

Danone had come under pressure in recent months from several shareholders including investment fund Artisan Partners and activist investor Bluebell Capital to replace Faber at the helm.