PARIS (Reuters) – 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.
Faber had already said earlier in March he would give up his role as CEO, but stay on as chairman. Danone could not immediately be reached for comment.
Reporting by Sarah White and Gwenaelle Barzic; Editing by Daniel Wallis