Danone board ousts Faber as chairman after pressure

Leadership change: Dairy products manufactured by Danone SA sit on display in a chilled cabinet at an Auchan Holding SA city supermarket in Moscow. The firm had come under pressure in recent months from several shareholders to improve returns. ─ Bloomberg

PARIS: The board of French food group Danone voted to oust Emmanuel Faber as chairman, Le Figaro newspaper reported, as the group tries to draw a line under a management crisis and growing pressure from shareholders.

Faber, who had recently said he would relinquish his role as CEO but stay on as chairman to try to appease critics, will be replaced by recently appointed director Gilles Schnepp in the top job, Le Figaro said. Danone and Faber could not immediately be reached for comment.