French corporate giant Danone comes under attack again from US investment manager
French corporate giant Danone has come under attack again from a US investment manager.
Artisan Partners, the yoghurt maker’s third largest shareholder, has reiterated calls for chief executive Emmanuel Faber to be dismissed and for the chief executive and chairman roles to be split in future.
It is the second time this month Artisan has taken aim at Danone, while activist investor Bluebell Capital Partners has also pushed for changes.
Under pressure: Danone released poor results last week and the funds believe its corporate structure is hindering growth
Danone released poor results last week and the funds believe its corporate structure is hindering growth.
French corporates rarely come under attack from funds and Danone has refused to make changes.