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Danone ousts Emmanuel Faber as chairman and CEO

Christian Fernsby |
Paris, France - Danone today announced that the board has decided that Emmanuel Faber will step down as chairman and CEO.

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After graduating from HEC, Emmanuel Faber began his career as a consultant at Bain & Company and later Baring Brothers.

In 1993, Mr. Faber joined Legris Industries as Chief Administrative and Financial Officer before being named Chief Executive Officer in 1996.

Mr. Faber joined Danone in 1997 as Head of Finance, Strategies and Information Systems.

He became a member of the Executive Committee in 2000.

In 2005, while Danone was strengthening its management structure in the Asia-Pacific region, he was named Vice-President for the Asia-Pacific region in charge of the Group’s operational activities.

Since January 1, 2008, Mr. Faber has been a Deputy General Manager of Danone, responsible formajor corporate functions (Finance, Human Resources, etc.).

He was later appointed Vice-Chairman of the Board of Directors. Since 2008, he has served as Director of the danone.communities mutual investment fund (SICAV).

Mr. Faber has been a member of the Steering Committee of the Danone Ecosystem Fund and a member of the Steering Committee of the Livelihoods Fund.

Danone has appointed Gilles Schnepp as Chairman of the Board.

Upon graduating from the Ecole des Hautes Etudes Commerciales (HEC) in 1981, Mr. Schnepp started his career in 1983 at Merrill Lynch France where he became Vice-President.

Mr. Schnepp then joined Legrand in 1989, holding various positions before being appointed Chief Operating Officer in 2000.

He was appointed to the Executive Committee and the Board of Directors in 2001 and Vice-Chairman and Chief Executive Officer in 2004.

Between 2006 and 2018 he has been Legrand Chairman and Chief Executive Officer.

Mr. Schnepp has been Chairman of the Board between 2018 and 2020.

Since 2020, he has been an operating advisor of Clayton, Dubilier & Rice.

Mr. Schnepp is today also a member of the boards of Legrand, Saint-Gobain and Sanofi.

The Board has decided to appoint Véronique Penchienati-Bosetta, currently Chief Executive Officer International, and Shane Grant, currently Chief Executive Officer North America, to jointly lead the business while the search for a new CEO is underway.

Véronique Penchienati-Bosetta joined Danone in 2001 in marketing and General Manager roles before being appointed as Executive Vice President of Growth & Innovation for Danone in 2017, and as a member of the Danone Executive Committee in 2018.

Ms. Penchienati-Bosetta led Danone’s Growth & Innovation in e-commerce, leading to a doubling of sales from 2017 to 2020, and oversaw a 40% increase in innovation-led initiatives.

She became Executive Vice President of Specialized Nutrition in 2019, before being appointed Chief Executive Officer International in November 2020.

Prior to Danone, Ms. Penchienati-Bosetta worked in global health and beauty companies including Proctor & Gamble, in executive marketing positions.

Shane Grant was previously Executive Vice President and CEO of Danone North America.

Before joining Danone, Mr. Grant spent almost 20 years with The Coca-Cola Company, where he held various leadership roles in marketing, commercial and general management, including SVP Glacéau and President, Coca-Cola Canada.

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