© 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 govt and chairman of French meals group Danone, informed the weekly Journal du Dimanche that he didn’t maintain a “dogmatic” view as as to whether the function needs to be break 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 yr. Danone shares fell 27% in 2020 and the corporate had been touted as a primary goal for an activist fund.

“The separation of the roles of chairman and chief govt has been the article of a number of debates for years,” Faber informed the newspaper in an interview printed on Sunday. “Is it indispensable? In any case, I don’t maintain a dogmatic view on the matter.”

Faber has been chief govt since 2014 and likewise took on the chairman’s function three years later.

He had intensified actions to try to keep at bay activist buyers 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 mentioned it could trim product ranges. Faber confirmed the job cuts included 400 in France.

Faber mentioned the pandemic had price the group gross sales value 1 billion euros. Gross sales of mineral water fell 30%, he mentioned.

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Author: Pronews