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Danone Chairman, CEO Emmanuel Faber Steps Down, Names Gilles Schnepp Chairman

French food company Danone SA (DANOY.PK) announced on Monday that current Chairman and CEO, Emmanuel Faber, will be stepping down from his positions. The company also announced the appointment of Gilles Schnepp as Chairman of the Board, effective immediately.

The company said that the search for a new CEO is ongoing and an international search agency has been appointed for this purpose. Till a new CEO is appointed, the Board has selected Véronique Penchienati-Bosetta, currently CEO International, and Shane Grant, currently CEO, North America, to lead the business together.

Faber joined Danone in 1997 and was the CEO since 2014 and then Chairman and CEO.

Schnepp was Legrand Chairman and CEO between 2006 and 2018, and Chairman of the Board between 2018 and 2020. Since 2020, he has been an operating advisor of Clayton, Dubilier & Rice. He is on the Boards of Saint-Gobain and Sanofi as well.

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